NEPSE Adjusts Share Price of Everest Bank after 33% Right Issues

Nepal Stock Exchange (NEPSE) has adjusted share price of Everest Bank (EBL) to Rs 1274 per unit after the announcement of 33.33 percent right shares. According to NEPSE, the base price of the share is Rs 1553 per unit of share. EBL is issuing 33.33 percent of right issue of its paid-up capital amounting to Rs 1.53 billion. The company will issue 15,088,087 units of right shares through its issue manager NIBL Capital Markets from July 2 to August 6.

The annual general meeting of the bank held on the January 7 endorsed a proposal of issuing 33.33 percent right shares to its existing shareholders. By the third quarter of the current FY, the bank has paid-up capital of Rs 4.60 billion. With the issuance of the right shares, the paid-up capital will reach Rs 6.11 billion.