Muktinath Bikas Bank to issue 40% (61.70 lakh units) right shares from Bhadra 5; Book Closure on Shrawan 20

Muktinath Bikas Bank Limited (MNBBL) will be issuing 10:4 (40%) right share to its shareholders from Bhadra 4, 2074. As per the notice published by the development bank today, the rights issue will remain open for 35 days before closing on Ashwin 8, 2074. The book closure date for the rights issue was set on Shrawan 20, 2074. Only those shares registered one trading day ahead of the book closure date i.e. till Shrawan 19, 2074 are eligible to apply for the right shares. MNBBL will be issuing 6,170,865.04 units right shares at a par value of Rs 100 per unit. NIBL Capital Market Limited is the issue manager for this right issue. MNBBL’s current paid up capital remains at Rs 1.54 arba. After issuance of this 40% right share, its paid up capital will reach Rs 2.15 arba. It has authorized capital of Rs 2.50 arba. Interested applicants can collect application forms from NIBL Capital Market Limited, Lazimpat, Kathmandu and from designated branches of Muktinath Bikas Bank Limited. MNBBL’s 10^th AGM held on Mangsir 4, 2073 had endorsed capital increment by the way of issuing right shares in the ratio 10:4. To meet up with the minimum paid up capital requirement, MNBBL should hike its capital by Rs 35 crore (around 16%). MNBBL has posted net profit of Rs 49.63 crore up to the end of fourth quarter of FY 2073/74. Its last traded price (LTP) stood at Rs 943 as on August 1, 2017.