Mega Bank Issuing 4:1 Right Shares

July 26: Mega Bank is issuing 4:1 right shares from August 11 to September 14. The bank is issuing 8.1 million right shares to the existing shareholders priced at Rs 100 which cost Rs 601 in the secondary market at present.

The bank informs that the shareholders registered in the book by July 24 can apply for the right shares. Global IME Capital has been appointed as Issue Manager of the bank. Similarly, the bank informs of availability of application forms from all the branches of the Mega Bank.

After the issuance of right shares, the bank’s paid-up capital will reach Rs 4.05 billion. The bank is planning to issue bonus shares worth of Rs 56.5 million along with additional 4:1 right shares in the current FY in order to meet paid-up capital set by NRB. The bank is also planning to merge with another financial institution having paid-up capital of Rs 67 million to meet the remaining paid-up capital.

The bank has earned Rs 322.8 million net profit by the mid-April of last FY. Similarly, the bank has predicted to earn Rs 891.1 million net profit in the current FY.