219 bidders allotted 3.23 lakhs units auctioned ordinary shares of Machhapuchchhre Bank; Cutoff at Rs 325.50
- ShareSansar, March 19, 2017 on Featured , Latest , Share Auction , Stock Market
Machhapuchchhre Bank Limited (MBL) had auctioned its unclaimed 3,23,206 units ordinary and 48,623 units promoter right shares to the general public from Falgun 27, 2073 till Chaitra 3, 2073. The bids were opened on Chaitra 4, 2073 at 11:00 AM.
An official of Civil Capital Markets Limited, which managed the auction for Machhapuchchhre Bank, informed that the preliminary cut off price for 3,23,206 units ordinary shares stood at Rs 325.50. The highest bid amount for the auction shares received was Rs 380. 5055 applicants had submitted their bids for 3,23,206 unit ordinary shares and only 219 of them got shares.
“The data are preliminary as final data may vary.” added the official.
Similarly, for 48,623 units promoter shares, the bank has set a preliminary cut off price of Rs. 211.30. The highest bid amount for the auction shares received was Rs 301. Only 33 applicants had submitted their bids for 48,623 units promoter right shares and 9 of them got shares.
MBL’s 18th AGM had endorsed 20.75% stock dividend for the FY 2072/73 and further right share of 12%. After the allotment of shares in this auction, and the capitalization of 20.75% bonus and further 12% right share, its paid-up capital will reach 7.39 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to Rs 8 arba by the end of FY 2073/74, MBL will need to issue a further capital hike of 8.25% against an annualized EPS of Rs 24.66 as of the end of Q2 this year.
Its last closing price stood at Rs 355 as of March 16, 2017.