Over 1.45 lakh units right shares of Himalayan Bank and 3.71 lakh units right shares of Machhapuchchhre Bank unclaimed by shareholders; to be auctioned within a month

Himalayan Bank Limited (HBL) had floated 64,27,350 units Right shares in the ratio 7:1 to its existing shareholders from Kartik 26 to Mangsir 30, 2073. Out of the total 64.27 lakh units floated right shares; only 62,81,770 units were claimed by 11,700 of its shareholders and 1,45,580 were not subscribed during the same period. All of the unclaimed right shares belong to the general public that hold 15% of the total share in the bank. Likewise, Machhapuchchhre Bank Limited (MBL) had also floated 1,93,22,700 units Right shares in the ratio 2:1 (50%) from Mangsir 19 to Magh 2, 2073. Almost 3,71,000 units Right shares were not claimed by its shareholders. Out of these unclaimed right shares, around 3,23,000 units are ordinary shares and around 48,000 units are promoter shares. As per an official of MBL, the unclaimed right shares will be auctioned within a month. To comply with the paid up capital requirement of NRB, almost all BFIs have been issuing right shares. However, not all issued right shares are being claimed by the shareholders. Such huge quantities of right shares of major commercial banks going unclaimed shows that there is an oversupply of shares in the market. It also shows that existing shareholders of the companies are not aware of the rights issue. Also see: Auction data with cutoff prices of recently auctioned right shares