Preliminary Cutoff price for 2.17 lakh units ordinary shares of Mega Bank stood at Rs 411; promoter cutoff at Rs 135

Mega Bank Nepal Limited (MEGA) had auctioned its 2,17,890 units ordinary shares and 1,68,992 units promoter right shares to the general public from Chaitra 17, 2073 till Chaitra 20, 2073. The bids were opened yesterday at 3:00 PM. An official of Nabil Investment Banking Limited, which managed the auction for Mega Bank, informed that the cut off price for its 2,17,890 units ordinary shares stood at Rs 411. Similarly, for 1,68,992 units promoter shares, the bank set a preliminary cut off price of Rs 135. “The data are preliminary as final data may vary,” added official MEGA has earned Rs 37.09 crore in the second quarter of the fiscal year 2073/74. The unclaimed right shares are not eligible for the 13.25 percent bonus shares. MEGA’s paid-up capital after the recently issued 25% right stands at Rs 4.01 arba. Its paid up capital after the issuance of 13.25% bonus and 65% right will reach Rs 7.56 arba. Mega Bank and Tourism Development Bank have signed an MOU on Magh 6, 2073 for merger with swap ratio of 100:95. The trading of the bank has been suspended in Nepal Stock Exchange following the merger process. After the merger, the paid up capital of the merged entity will reach Rs 9.48 arba.