Nabil Bank to convert its 10% promoter shares sold by NIDC Development Bank to public shares; AGM on Falgun 27

Nabil Bank Limited (NABIL) will be convening its 34th AGM on Falgun 27, 2075. The meeting will be convened in the premises of Nepal Academy, Kamaladi, Kathmandu at 11:30 AM.

 The main agendas of the meeting include

• To approve the consolidated financial statement including its subsidiary Nabil Investment Banking Limited for FY 2074/75.
• To convert the 10% promoter shares (sold by NIDC Development Bank Limited) to public shares.
• To endorse 12% bonus share and 22% cash dividend (including tax for bonus shares and cash dividend) for the shareholders.
• The fractional stock dividend will be rounded to the nearest whole number. After the distribution of bonus share, issued and paid up capital will rise to Rs. 9 arba.
• Other agendas of the meeting include endorsement of audited financial report for the FY 2074/75, appointment of statutory auditor for the FY 2075/76.

For the purpose of the meeting the shareholders register book of the bank will remain closed on falgun 14, 2075 i.e the shareholders holding the shares of the bank till Falgun 13, 2075 can claim for dividend and participate on AGM.

Currently the last trading price of NABILP (Nabil Promoter) and Nabil (Nabil Public) is trading at Rs 724 and Rs 807 respectively.

Why the price gap between Nabil ordinary and promoter shares?