October 2, 2019 | Investopaper
Dear Shareholders of Muktinath Bikas Bank, Hurry Up!!! The bank is closing its right issue from today (Ashwin 15, 2076). Those who have not still applied for the share can submit the application for the right until the close of banking hours today.
Issue date of Muktinath Bikas Bank right
Muktinath Bikas Bank (MNBBL) is issuing its 10:2 ratio 61,29,520.25 units right share from Bhadra 12, 2076 to the shareholders. Only those shareholders who bought shares of the company until Shrawan 31 are eligible for the right issue.
Eligible shareholders can submit their application by visiting Vibor Capital Limited located at Trade Tower, Thapathali. Similarly, you can apply the right share by visiting the head office of Muktinath Bikas Bank located at Kamaladi, Kathmandu or from any branches of Muktinath Bikas Bank Ltd. Also, the application can be placed from all C-ASBA approved financial institutions. You can also apply directly through Mero share.
Nepse has already adjusted the price of Muktinath Bikas Bank Ltd. on Bhadra 1, 2076.
Book closure date for Muktinath Bikas Bank right share
Muktinath Bikas Bank announced a book close date for its upcoming 10:2 right share. For the purpose of the right share, the book closure date is on Shrawan 31, 2076.
The Bank received approval from Sebon for its upcoming 20 percent right share. Sebon provided the approval on Ashad 30, 2076. The total quantity of right issue is 61,29,520.25 units worth Rs. 61.30 crores.
Ratings for Muktinath Bank right issue
The company received average ratings for the right issue. ICRA Nepal has given [ICRANP] IPO Grade 3 ratings to the right issue of Muktinath Bikas Bank. This indicates that the fundamentals of the development bank are average.
Vibor Capital Limited is the issue manager for the right offering of Muktinath Bikas Bank.
The development bank has a current paid-up capital of Rs. 3.06 Arba. After the right issue, the paid-up capital will rise to Rs. 3.67 Arba.
The company has already published the fourth-quarter report of FY 2075/76. To see the fourth-quarter performance, click here.