Nepal Bank extended its Right share date by 15 days

ShareSansar, June 25

Nepal Bank is close to meet its target of raising slightly over Rs 3.61 arba through the sale of its rights shares issued on May 23. As of Sunday, Rs 2 arba 50 crore worth of rights shares were subscribed, according to the CEO Bishma Chalise of Civil Capital Market Limited.

Though the date for the closure of the rights shares was set for June 26 (tomorrow), a bank official told ShareSansar that the date has been extended for 15 more days i.e. till 11th July, 2013 due to non subscription of the enough shares.

Nepal Bank had floated 36,193,174 unit’s rights shares with the ratio of 1:9.5 last month.

The bank’s paid up capital currently stands at Rs 38 .3 crore, after the right issue its paid up capital will be increased to Rs.4 arab.

The banks net worth that stood negative by Rs 1065 per share as per the third quarter report of the ongoing fiscal year, will turn positive by Rs 23.18 per share after the rights shares are fully subscribed.

Hopefully, the shareholders of the Nepal Bank will get some relief through this news of date extention.