Reminder: Last day to secure 20% bonus share of Agricultural Development Bank; LTP at Rs 565; 19.68 lakh auctioned share credited in demat a/c

Today is the last day to get hold of 20 percent bonus share of Agricultural Development Bank Limited (ADBL). The register of their shareholders will remain closed from Chaitra 18 to Chaitra 31, 2073 for its upcoming AGM. Only those shares traded one day ahead of the book closure date i.e. till today are eligible for the bonus shares and for participation in the AGM. ADBL had earlier auctioned its 19.68 lakh units unclaimed right shares from Magh 27 to Falgun 12, 2073. The cutoff price stood at Rs 361. With the current rise in market, ADBL's price has reached Rs 565 as of yesterday (Chaitra 16, 2073). Since all the right shares have been listed in NEPSE and deposited to the shareholders' respective demat accounts, they can be traded in NEPSE. In this period, the auction allottees have made a profit of Rs 204 per share (with respect to yesterday's closing price of ADBL). Agricultural Development Bank had earned net profit of Rs 90.66 crore in the second quarter of the current fiscal year 2073/74. After the capitalization of bonus and 50% right share, the paid up capital of the commercial bank will reach Rs 7.08 arba, in addition to irredeemable preference share capital worth Rs 5.43 arba. It will need to further hike its capital by around 13% to meet NRB’s minimum requirement of Rs 8 arba by the end of FY 2073/74.