Alpine Development Bank to auction unclaimed 2.59 lakh units shares at Rs 100 & above from Kartik 16

Alpine Development Bank Limited (ALDBL) will be auctioning its unclaimed 2,59,249 units right shares to the general public from Kartik 16, 2074. It will be selling 1,87,678 units promoter shares and 71,571 units ordinary shares after the right shares issued on Ashad 25 to Shrawan 29, 2074 were not fully subscribed by its shareholders. It offered right shares in the ratio of 3:2.08 (69.33%). Around 9.96% of the total issue was unsubscribed. The auction will last till Kartik 23, 2074. The bid will open to conclude the auction on Kartik 24, 2074 at 2 PM. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 unit for ordinary shares and minimum of 1000 unit for promoter shares and the shares applied for should be a multiple of 10. NMB Capital Limited is the issue manager for this auction. The development bank has urged interested bidders to submit their bids within banking hour till Kartik 23, 2074 at NMB Capital Limited, Naxal, Kathmandu or also in bank’s head office located at Hetauda – 4. Makwanpur. The investors applying for the auction can deposit the bid amount in the account number 00130600054010000194 maintained in the name of NMBCL Right ALDBL 2073/74 at NMB Bank Limited. Also applicants can submit their application through Good for Payment Cheque. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 44.04 crore from existing Rs 26 crore. The company has authorized capital of Rs 50 crore. Its public-promoter share structure stands at 51:49 ratio. Alpine Development Bank has earned net profit of Rs 6.27 crore in the fourth quarter of the FY 2073/74. It is under acquisition by Century Commercial Bank Limited (CCBL).