Megabank to Increase Charter Fund by 20%
11
March 2008
Megabank (MEGA: BUY) announced it will vote on increasing its charter fund by 20% to USD 47.5 mln at its AGM scheduled for April 22. If approved, subscription would be held from June 16 to July 2. Following the share issue, the market price (currently USD 0.62) adjusted to a fully-diluted basis is USD 0.55. Our target price would adjust correspondingly from the current USD 1.20 to USD 1.03.