Summit Microfinance auctioning 26,549 unit unsold right shares from Mangsir 4, LTP at Rs 1,710
Mon, Nov 13, 2017 10:31 AM on Latest, Featured, Stock Market,

Summit Microfinance Development Bank Limited (SMFDB) will be auctioning 26,549 units unsold right shares from Mangsir 4, 2074.
The microfinance company is selling 4,082 units ordinary shares and 22,467 unit promoter shares after the right shares issued from Bhadra 29 to Kartik 1, 2074 were not fully subscribed by its shareholders. The company had offered 7,25,000 unit right shares in the ratio 1:1 and around 3.66% of the total right issue was unsubscribed.
The auction will last till Mangsir 11.
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 units of share. The number of shares applied must be a multiple of 10. Only existing promoter are eligible to bid for the promoter shares.
Sanima Capital Limited is the issue manager for this auction.
The microfinance company has urged interested bidders to submit their bids by 3:00 PM till Mangsir 11, 2074 at Sanima Capital located at Naxal, Kathmandu.
The investors applying for the auction can deposit the bid amount in the name of Sanima Capital Limited in account number 0010001058607 of Sanima Bank Limited or applicants can issue Good For Payment cheque in the name of Sanima Capital.
The forms of the auction can be obtained from Sanima Capital and designated branches of Sanima Bank Limited.
Its current paid up capital stands at Rs 7.25 crore. After the issuance of 100% right shares, its paid up capital will reach Rs 14.5 crore. Also from the net profit of FY 2073/74, it had announced 34.48% bonus shares and 10.52% cash dividend. After bonus shares, its paid up capital will reach to Rs 17 crore.
SMFDB has earned Rs 5.01 crore in the fourth quarter of the FY 2073/74.
Its last closing price stood at Rs 1,710 as of last trading day.
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