Last day to apply Machhapuchchhre Bank 20% right share; offer ends today – ShareSansar

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Existing shareholders have one more day to file for the 5: 1(20%) ratio right shares of Machhapuchchhre Bank Limited (MBL). The bank has been issuing right shares at face value of Rs 100 per share from Ashwin 17, 2072 and today (Mangsir 2) is the closing day for the same.

The 16th AGM of MBL held on 26th Mangsir, 2071 had approved to issue 5:1 ratio right shares. The bank is floating 55, 52,500.93 units of right shares for its existing shareholders.

The issue manager of this right share is Nabil Investment Banking Ltd.

Interested shareholders can collect the application forms from the any branch of Machhapuchpuchhre Bank as well as from the Nabil Investment banking Limited located at Narayanchowk, Naksal, Kathmandu.

The company’s paid up capital at present stands at Rs 2.77 arba. After the listing of these right shares, the paid up capital of MBL will reach 3.33 arba.

Its promoter- public ratio is at 66.55% to 33.45%. The bank might convert its 15.55% promoter share into public share making the promoter- public share 51% to 49% in the near future.

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below-average fundamentals to this rights issue offerings amounting to NPR 555.25 million of MBL. ICRA Nepal assigns IPO grading on a scale of IPO Grade 1 through IPO Grade 5, with Grade 1 indicating strong fundamentals and Grade 5 indicating poor fundamentals.

 

Published on: Sharesansaar (November 18, 2015)