Nepal Bank rights shares issue closes today; Rs 300 plus crore collected so far

ShareSansar, July 11:

Nepal Bank Limited has announced to close the rights shares on July 11, today.

Existing shareholders of Nepal Bank, who are entitled to get 9.5 shares for every share they already own, can file an application at the Citizens Investment Trust and Civil Capital, the issue managers, by today.

According to a bank official, the collection from the rights shares has reached about 85-90 percent of the estimated target.

While the government owns 38.6 per cent stake in the bank, employees, business houses and minority shareholders make up the remaining 61.4 per cent. The government had deposited Rs 1.39 billion to buy rights shares.

The bank had floated a total of 36,193,174 unit’s rights shares with the ratio of 1:9.5 on May 23. Earlier, the date for the closure of the rights shares was set for June 26 but was extended by 15 days after the shares were not fully subscribed.

The bank’s paid up capital currently stands at Rs 38.3 crore, which will increase to Rs 4 arba after the collection from the rights shares are taken into account. The bank’s net worth that stood negative by Rs 1065 per share as per the third quarterly report of the ongoing fiscal year, will turn positive by Rs 23.18 per share after the rights shares are fully subscribed.

Closing Notice:  CLICK HERE

Right Share Extention Notice: CLICK HERE 

Nepal Bank rights issue opens