Mega Bank seeks Sebon nod to float rights issue

Published On: July 1, 2017 09:34 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 1: Mega Bank Limited has sought approval from the Securities Board of Nepal to float 65 percent rights issue. It has already appointed Nabil Investment Banking Ltd as issue manager for the rights issue.

Issuing a statement, the bank said that it has proposed to issue 29.78 million shares to raise Rs 2.97 billion. The bank recently provided 13.95 bonus shares and 0.7 percent cash dividend (for tax purpose) to its shareholders from profit that it earned in Fiscal Year 2015/16, according to the statement.

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