6 investors allotted 43,606 units auctioned ordinary shares of Mission Dev. Bank; Cut-off price stood Rs. 215

Mission Development Bank Limited (MIDBL) has auctioned its 43,606 units ordinary right shares and 1, 73,650 units promoter right shares to general public from Mangsir 13 to Mangsir 20. The bid was opened yesterday at 3:00 PM. Bishnu Prasad Pokhrel, Company Secretary of Mission Development Bank said, the development bank has set the cutoff price for the 43,606 units ordinary shares at Rs, 215 The highest bid amount for the auction shares received was Rs.250. Only 6applicants were allotted shares out of the 113 applicants who submitted their bids for 43,606 units of ordinary shares. Similarly, for the 1, 73,650 units promoter shares the development bank has set the cutoff price at Rs 100. All 14 applicants who submitted their bids for 1, 73,650 units promoter shares got the shares. Mission development bank had earned net profit of Rs. 66.51 lakh in its first quarter of the current fiscal year 2072/73. The last trading price of MIDBL stood at Rs. 172 as on October 25, 2015.