Manjushree Finance’s swap ratio for merger with Lumbini Bank between 65 - 75 %

A month after signing a MoU to merge with Lumbini Bank Limited for the merger, Manjushree Finance Institution Limited is looking at a good deal with commercial bank.

 According to the officials of both the BFIs, they are close to finalizing a deal with a swap ratio of 65 to 75 percent for the finance company.

“Manjushree is asking for more than 70 percent, while Lumbini is not willing to give more than 65,” a source privy of the development told .

Ridi Hydropower all set to issue IPO of 11.7 lakh units within Magh

Ridi Hydropower Development Company Limited is all set to float its Initial Public Offering (IPO) of 11.7 lakh units within a month.

“We are targeting to issue the IPO within the month of Magh,” Ridi Hydropower’s company secretary Alok KC told .  “We are, however, waiting for the final approval from SEBON (Securities Board of Nepal) at the moment.”

Kabeli Bikas Bank floats rights shares at 11:4 ratio

Kabeli Bikas Bank Limited has floated 80,000 units of its 11:4 ratio right shares from Jan 19.

The issuance of the rights shares of face value Rs 100 will end on February 23.
Elite Capital Limited, Jamal, Kathmandu is the issue manager.

It may be noted here that as the development bank has already announced book closure from December 20, only those who held shares of the bank till December 20 are eligible for the rights shares. -SSN

Mithila Laghubitta Bikas Bank IPO oversubscribed by 76.8 times

The Initial Public Offering (IPO) of Mithila Laghubitta Bikas Bank Limited that closed on January 8 has been oversubscribed by 76.86 times.

The issuance of 70, 725 units of ordinary shares through the IPO that begun on January 5 has drawn Rs 54 crore, 36 lakh and 30 thousand, according to the final data handed over by Civil Capital Limited, the issue manager, to the Securities Board of Nepal (SEBON).

The issue manager maintains that the IPO would have drawn even more investors had it not come just ahead of Century Commercial Bank’s IPO.
The SEBON had approved Mithila’s IPO issuance on December 11.

As 1,415 unit shares were set aside for the staff of the microfinance and another 5 percent of the shares were earmarked for the mutual funds, the total ordinary shares floated to the public stood at 65,774. -SSN

Century Bank IPO oversubscribed by over 23 times

The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited is oversubscribed by more than 25 times as per the final emerging figure being compiled by the issue managers.

The latest updated figure of the collection of Century IPO stands at Rs 20 arba, 72 crore, 65 lakhs and 80 thousand” the official designated by the issue managers to compile the IPO application told ShareSansar today. “Though a few cheques might bounce here and there, we can safely say that the IPO is oversubscribed by around 23.03 times.”

At the closing day of the IPO, the issue managers were expecting to draw not more than Rs 16 arba.

The IPO, which was issued from January 9,  had closed on January 13.

Long serpentine queues could be seen in front of all the collection centers on the closing day of the IP0.

Century’s IPO was one of the most expected events in the stock market not just because of its sheer volume but also because it is the last IPO to be issued by any commercial bank of the country.

Nepal Rastra Bank has stopped issuing license to the commercial bank, and, on the contrary, has been directing the commercial banks and other BFIs to seek merger.

The offering was also special in that it was the largest IPO to be issued by any private bank in the country, second only to primary shares worth Rs 96 crore floated by Agriculture Development Bank Limited.

ICRA Nepal had assigned an ‘[ICRANP] IPO Grade 4+’ to Century Bank’s IPO, which is not at all bad by any standards.

Following the IPO, the commercial bank’s paid-up capital of Rs 1.08 billion will rise to Rs two billion, as per the regulatory requirement.

It may be noted that there was a huge response to the IPOs issued by three commercial banks — Civil Bank, Commerz and Trust Bank Nepal and Mega Bank—had issued their IPO over the last one year.

Civil Bank’s IPO was oversubscribed by seven times, Commerz and Trust’s IPO was oversubscribed by 11 times and Mega Bank’s IPO was oversubscribed by 22 times.- SSN

Century Commercial Bank IPO expected to be oversubscribed by 18 times

The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited is likely to oversubscribed by 18 times if the latest information being compiled by the issue managers is anything to go by.

“The updated figure for the first three days of the collection of Century IPO stands at Rs 7.38 arba,” the official designated by the issue managers to compile the IPO application told today. “Considering this trend, we are upgrading our estimate for the oversubscription to 18 times as we are most likely to collect not less than Rs 15 arba.”

Sanima Mai IPO gets listed today, Kalika and Naya Nepal to be listed in first week of Magh

The Initial Public Offering (IPO) shares of Sanima Mai Hydropower Limited (SHPC) has finally been listed, according to highly placed sources at Nepal Stock Exchange Limited.

“We have signed the listing agreement with Sanima Mai executives today. Since the company’s chairperson is out of the country and the CEO is out of station, other officials came up with the mandate to ink the listing agreement,” the source told today.

Butwal Power Company BPC proposes 18% cash dividend; announces book closure on Feb 5

Butwal Power Company Limited has offered 18 percent cash dividend to its shareholders from the net profit it posted in the last fiscal year 2069/70.

The BOD meeting of the company has just taken decision to this effect. The proposed dividend is, however, subject the approval of the upcoming Annual General Meeting of BPC, which is slated for February 23.

BPC had posted a net profit of Rs.28.64 crore in the last fiscal year of 2069/70.

Meanwhile, BPC has also declared its book closure date on February 5 for the AGM as well as for its 3:2 right shares. -SSN

Mega Bank endorses 9% cash dividend

Mega Bank Nepal Limited’s third Annual General Meeting has formally endorsed 9 percent cash dividend to the shareholders from the net profit it earned in the last fiscal year 2069/70.

Incepted less than two years ago, Mega Bank had posted an impressive net profit of Rs.17.73 in the last fiscal year.

Chairman of the bank Prof Dr Madad Kumar Dahal said that the bank felt proud to offer dividend to the shareholders in the first year itself.

CEO of the bank Anil Keshari Shah informed that Mega Bank has been in profit ever since its inception.

The AGM of the young commercial bank held at Nepal Academy Hall also elected two directors from among the ordinary shareholders unanimously. The election was more of a formality since the shareholders had already decided to unanimously elect Chet Narayan Pandey and Dipendra Agrawal head of the AGM.

Mega Bank Nepal Limited had gone on to post an astounding 291 percent growth in net profit in the first quarter of the current fiscal year 2070/71.

Its net profit has surged to Rs 10.18 crore from Rs 2.60 crore in the corresponding quarter of the last fiscal year.

The profit was largely propelled by its core business as shown by its net interest income, which rose to Rs 19.54 crore in the first quarter, up from Rs 1.39 crore in the corresponding quarter.

Its EPS annualized stand at Rs 16.98 and per share net worth at Rs 118.61. -SSN

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Nagbeli Laghubitta Bikas Bank IPO allotment results - View Online

Allotment of the Initial Public Offering (IPO) of 42,900 unit equity shares floated by Nagbeli Laghubitta Bikas Bank Limted,  has taken place today.

As per the allotment model developed by the issue manager, NMB Capital Limited, those who applied up to 4,210 units have been placed under the lottery.


It is interesting to note that the minimum allotted units per group is 10 units and the maximum allotted units for any group is 11 units.

The allotment model was designed in that manner since the IPO was oversubscribed 341.65 percent, and the allotment percentage up to 500 units was 0.569 percent, and from 510 to 4210 units is 0.221 percent and from 4300 to 5000 units is 0.23 percent.

"As we had to ensure that each of the groups get at least 10 units of share, we prepared the model accordingly" according to NMB officials. "Otherwise, none of the smaller investors would have got any shares." -SSN

 CLICK HERE TO VIEW ONLINE IPO RESULTS OF NAGBELI LAGHUBITTA

Jyoti Bikas Bank pledges 12.6% dividend, including 7% bonus shares

Jyoti Bikas Bank Limited has proposed an impressive dividend of 12.60 percent, including 7 percent bonus shares, to its shareholders from the net profit it posted in the last fiscal year 2069/70.

The 157th BOD meeting of the development bank has just taken the decision to this effect. However, the proposed dividend is subject to the approval of Nepal Rastra Bank and the upcoming Annual General Meeting of the development bank. Jyoti Bikash Bank Limited has posted a net profit of Rs 7.26 crore in the last fiscal year 2069/70. -SSN

Sagarmatha Insurance offers 42.1% dividend, including 20% bonus shares & 22% cash dividend

Sagarmatha Insurance Company Limited has offered an astounding 42.1 percent dividend - 20 percent bonus shares and 22 percent cash- to its shareholders from the net profit it earned in the last fiscal year.

The dividend just proposed by the 181st BOD meeting of the insurance company is, however, subject to approval from Insurance Board and the upcoming AGM of the insurance company.Sagarmatha Insurance Company had posted a huge net profit of Rs 17.79 crore in the last fiscal year 2069/70.-SSN

Rural Microfinance Development Centre Limited RMDC AGM to endorse 15% cash dividend

Rural Microfinance Development Centre Limited (RMDC) hold 15th Annual General Meeting on Jan 13th.

The AGM being held at the City Hall in Kathmandu will endorse 15 percent cash dividend to the shareholders from the net profit the microfinance development bank posted in the last fiscal year 2069/70.

Though RMDC has not published its balance sheet for the last fiscal year, it posted a net profit of Rs 6.82 crore in the first quarter of the current fiscal year.-SSN

Grand Bank Nepal Limited proposes 4.75 percent cash dividend

Grand Bank Nepal Limited has proposed 4.75 percent cash dividend to its shareholders from the net profit it posted in the last fiscal year 2069/70.

The proposed dividend, however, is subject to the approval of Nepal Rastra Bank and the upcoming AGM of the commercial bank.

Grand Bank had posted a net profit of Rs.20.05 crore in the last fiscal year of 2069/70.- SSN

Swabalamwan Laghubitta to endorse 13.36% cash dividend and 14% bonus shares

Swabalamwan Laghubitta Bikas Bank Limited hold its 12th Annual General Meeting on Jan 12.

The AGM being held at Naxal Banquets, Narayanchour is due to endorse 13.36 percent cash dividend and 14 percent bonus shares to its shareholders.

It is also scheduled to soar up the microfinance development bank’s capital base.

The microfinance development bank had posted a net profit of Rs 6.64 crore in the last fiscal year and went on to post additional net profit of over Rs 2 crore in the first quarter of the current fiscal year. -SSN

Lumbini Bank endorses 8% bonus shares & .46% cash dividend

The 16th Annual General Meeting of Lumbini Bank Limited held on Friday has formally endorsed 8 percent bonus shares and 0.46 percent cash dividend to the shareholders from the net profit the commercial bank posted in the last fiscal year 2069/70.

During the AGM held at the Chitwan chapter of FNCCI in Narayangarh, the bank management also informed that bank's paid-up capital has soared to Rs 1.72 arba.

Manaslu Bikas Bank to issue 25% rights shares

Manaslu Bikas Bank Limited has decided to issue 25 percent rights shares to its shareholders to soar up its paid-up capital soon.

The third Annual General Meeting of the development bank held in Gorkha on Friday took the decision to this effect so as to raise its capital from the existing Rs 15 crore to Rs 30 crore.

The AGM also elected Prof Dr Chandra Bahadur Thapa and Dr Krishna Prasad Devkota to the Board of Directors of the development bank.

With this the total number of BoD members has risen to six.-SSN

Century Bank issues IPO worth Rs 92 crore today

Century Commercial Bank Limited has issued its Initial Public Offering (IPO) worth Rs 92 crore from today.

The IPO will close on January 13.

Century’s IPO is one of the most expected events in the stock market not just because of its sheer volume but also because it is the last IPO to be issued by any commercial bank of the country.

Nepal Rastra Bank has stopped issuing license to the commercial bank, and, on the contrary, has been directing the commercial banks and other BFIs to seek merger.

Mithila Laghubitta Bikas Bank IPO oversubscribed by 70 times

The Initial Public Offering (IPO) of Mithila Laghubitta Bikas Bank Limited that closed on Wednesday has been oversubscribed by around 70 times.

The issuance of 70, 725 units of ordinary shares through the IPO that begun on January 5 was oversubscribed by around 36 times in just three days with the collection of Rs 24.24 crore,  and by around 70 times as additional 26 crore collected in the final day, according to Civil Capital Limited, the issue manager.

Sunrise Bank proposes 11 % bonus shares

Much to the respite of its shareholders, Sunrise Bank Limited has proposed 11 percent bonus shares from the net profit it posted in the last fiscal year 2069/70. A meeting of the bank’s board of directors has just taken the decision to this effect.

The propose dividend is, however, subject to the approval of Nepal Rastra Bank and the upcoming Annual General Meeting of the commercial bank.
Sunrise Bank had posted a net profit of Rs.31.91 crore in the last fiscal year.

Civil Bank AGM endorses 5.7% cash dividend, Merger with Axis Development Bank & Civil Merchant Finance

Civil Bank Limited’s third Annual General Meeting held yesterday took a number of important decisions, including endorsement of 5.7 percent cash dividend to the shareholders from the net profit the young commercial bank posted in the last fiscal year 2069/70.

Besides, the AGM also saw an election of three members to the Board of Directors from the ordinary shareholders. They are Ghanendra Bahadur Shrestha, Mitra Lal Shrestha and Sangam KC.

Nirdhan Utthan Bank Limited endorse 11.58% cash divdend & 20% bonus share

Nirdhan Utthan Bank Limited is also holding its 15th AGM on Jan 8.

The shareholders have been eagerly waiting for the day as the bank is due to formally endorse 11.58 percent cash divdend and 20 percent bonus share for them.

Clean Energy Development Bank to endorse 5% Bonus share & 5.523% cash dividend

Clean Energy Development Bank is holding its Annual General Meeting today.

The seventh AGM of the development bank, among other things, will endorse 10.523 percent dividend – 5 percent bonus share and 5.523 percent cash—to the shareholders from the net profit it posted in the last fiscal year 2069/70.

Nilgiri Bikas Bank to provide 14 percent dividend

Nepal Rastra Bank (NRB) has given permission to Nil Giri Bikas Bank to provide 14 per cent dividend to its shareholders.

The approved 14 per cent dividend will be provided to the share holders after deciding in the coming seventh annual general meeting (AGM) of the bank, said senior officer Anuman Shrestha at the bank.

Agricultural Development Bank ADBL expected to give around 30% dividend

Agricultural Development Bank Limited, one of the largest banks in the country, is expected to give around 30 percent dividend to the shareholders from the net profit it posted in the last fiscal year 2069/70.
“The management is expected to make some important announcement regarding the proposed dividend and the upcoming AGM during the bank’s anniversary on January 21,” informed a highly placed source.

The shareholders, who were dejected by the bank’s failure to deliver the pledged dividend for the previous fiscal year 2068/69, are very upbeat about dividend this time around as the bank is fairing much better.

Nagbeli Laghubitta Bikas Bank allotment only next week

Allotment of the Initial Public Offering (IPO) of 42,900 unit equity shares floated by Nagbeli Laghubitta Bikas Bank Limted, in December will take place only next week, most probably on January 12, according to the issue manager NMB Capital Limited.

With this, the investors, who were hoping to get the refund from Nagbeli to apply for the IPO of Century Commercial Bank Limited to be opened on January 9, will have to make alternative arrangement to apply for the IPO.

Sanima Mai IPO to be listed on January 14 for trading

The Initial Public Offering (IPO) shares of Sanima Mai Hydropower Limited (SMHL) will be listed on January 14 for trading, according to Nepal Stock Exchange Limited.

“We will publish the notice regarding the listing of Sanima Mai Hydropower Limited IPO shares,” NEPSE General Manager Sitaram Thapaliya told today. “The equity shares will be listed for trading within a week thereafter.”

Global IME Bank AGM to endorse 15% bonus shares

Global IME Bank Limited is holding its seventh Annual General Meeting today.

The AGM being held at Hotel Vishwa in Birjung is due to endorse 15 percent bonus shares to its shareholders from the net profit the commercial bank posted in the last fiscal year 2069/70.
The Annual event is also likely to endorse a proposal to soar up capital of the bank.

Global IME Bank’s net profit had risen by 108.24 percent in the last fiscal year. The bank garnered profits of Rs 55.24 crore as against Rs 26.53 crore in the previous fiscal year.

Stock market likely to maintain bullish trend

Amid euphoria among investors who are feeling more optimistic about the prospects of a more comfortable environment for investment, the upward journey of the Nepal Stock Exchange (Nepse) Index is expected to continue and surpass 2013´s record of 806.82 points.

They hope to benefit from a rallying secondary stock market this year against the backdrop of improvement in the political situation of the country.

The Nepse Index -- which measures the investors´ confidence in the capital market -- reached a five-year high on December 18 to close at 806.82 points. Daily turnover also touched an all-time high of Rs 810 million the following day.

Himalayan Bank announces 5% bonus shares & 10% cash dividend

Himalayan Bank Limited has proposed 15 percent dividend, including 5 percent bonus shares, to its shareholders from the net profit it earned in the last fiscal year.

A BoD meeting of the commercial bank has just proposed the dividend, which, however, is subject to the approval of Nepal Rastra Bank and the AGM of the bank.
Nevertheless, this has come as a relief to the shareholders.

Kist Bank & Prabhu Bikas Bank very close to a merger

Kist Bank Nepal and Prabhu Bikas Bank are now very close to a merger. After taking over major shares of Kist, with the help of its former chairperson, the Prabhu Group is now planning to take over the management for a smooth merger.

As part of that plan, they have reshuffled the management of Kist. CEO of Sanima Bank Kumar Lamsal has been hired as the CEO of Kist while CEO of Prabhu Bikas Bank has joined Kist as his deputy.

Lumbini Bank 8% bonus share, AGM on January 10.

Lumbini Bank Limited is holding its 16th Annual General Meeting on January 10.

The AGM to be held at the Chitwan chapter of FNCCI in Narayangarh is due to endorse 8 percent dividend to the shareholders from the net profit the commercial bank posted in the last fiscal year 2069/70.

The commercial bank had posted a net profit of Rs 14.95 crore in the last fiscal year.

Century Bank to issue public IPO shares from Jan 9 to 13, OFFICIAL NOTICE

Century Commercial Bank is going to issue its Initial Public Offering (IPO) worth Rs 92 crore on January 9. The IPO will close on January 13. Century’s IPO is one of the most expected events in the stock market not just because of its sheer volume but also because it is the last IPO to be issued by any commercial bank of the country.

Nepal Rastra Bank has stopped issuing license to the commercial bank, and, on the contrary, has been directing the commercial banks and other BFIs to seek merger.

NMB Bank distributing 10% cash dividend warrants from Jan 1

NMB Bank Limited is distributing cash dividend warrants to its shareholders from today.The dividend warrants can be collected from the bank’s RTS NMB Capital at Babarmahal from 10:00 AM to 2:30 PM from Sunday through Thursday and from 10:00 AM to 1:00 PM on Friday.

The commercial bank last month had proposed 15 percent cash dividend to its shareholders from the net profit it posted in the last fiscal year 2069/70.But the central bank did not endorse the proposed dividend and asked NMB not to include the profit of its subsidiary, NMB Capital Limited and to provision that amount.

Matribhumi Bikas Bank distributing advice slip and refunding money of IPO

Matribhumi Bikas Bank Limited is distributing advice slip and refunding money to the non-allottees who had invested in its IPO.On December 27, Matribhumi’s IPO was allotted flatly at 19.33 percent. As the IPO was oversubscribed by five percent, those who applied up to 40 units were placed under the lottery.

There were 2,047 applicants, mostly from the locals of Sindhuli where the bank is based, according to the issue manager Civil Capital Markets. And there were 245 applications from big and institutional investors for 1.54 lakh unit equity shares.

Kabeli Bikas Bank issuing 11:4 rights shares from January 24

Kabeli Bikas Bank Limited is issuing 80,000 units of ordinary rights shares of face value Rs 100 from January 24 at 11:4 ratio.The rights issue being managed by Elite Capital Limited will remain open till February 23.

It may be noted here that as the development bank has already announced book closure from December 20, only those who held shares of the bank till poush 5 are eligible for the rights shares.-SSN

Sanima Mai hydropower distributing IPO share certificates from JAN 1

Sanima Mai Hydropower Limited is distributing IPO share certificates from today, two months after the allotment of the primary shares.

The allotment of IPO equity shares of Sanima Mai Hydropower Limited had taken place on November 1.

The 21.1 lakh unit of the IPO issue by the hydropower company was oversubscribed by 31 times, according to the issue manager, NIDC.

Arun Valley Hydropower rights shares within Magh

The much overdue rights shares of Arun Valley Hydropower Development Company Limited (AHPC) will be issued within the month of Magh.

The fourth Annual General Meeting of the hydropower developer held two years back had endorsed rights shares at 1:1 ratio.