Almost 19% Promoter Shares of Machhapuchchhre Bank in Auction From Today
The existing promoter of Machhapuchchhre Bank Limited (MBL) is auctioning 1,12,32,492 units of shares to the promoter shareholders from today.
Surendra Mahato, a promoter of MBL is set to sell 1,12,32,492 units of promoter shares, which represents approximately 18.95% of the total promoter shares or 51% ownership. With a total of 11.62 Crore units of shares listed on the Nepal Stock Exchange (NEPSE), these shares being auctioned constitute about 9.66% of the total shares. This auction is expected to attract the attention of investors and may have an impact on the ownership structure of MBL.
Only promoter shareholders are eligible to bid for the auction within 35 days from the date of publication of this notice i.e. 25th Ashwin, 2080. The shareholders should submit their bids at Machhapuchchhre Capital Limited located at Baghdurbar, JDA Complex, Kathmandu.
Also, MBL has endorsed a 14% dividend (13.30% bonus shares and 0.70% cash dividend) from the paid-up capital of Rs. 11.62 Arba through its 25th AGM for the fiscal year 2079/80. The bank published its fourth-quarter report with almost a 10 percent increase in Net Profits totaling Rs. 1.85 Arba while the distributable profits per share stood at Rs. 15.29 as of the end of FY.
MBL closed at Rs.205.00 yesterday. Meanwhile, MBLPO has an LTP of Rs. 136 as of June 10, 2023.
