Alpine Dev. Bank auctioning 74,084 unit shares at Rs 100 & above from today

Alpine Development Bank Limited (ALDBL) is auctioning its ordinary and promoter right share to the general public from today (Mangsir 12, 2073). The development bank is selling 32,315 units’ promoter share and 41,769 units ordinary shares after the rights shares issued on Shrawan 19, 2073 were not fully subscribed by the investors. The bank had offered right shares at the ratio of 3:2.08. The auction will last till Mangsir 19, 2073. The bid will open to conclude the auction on Mangsir 20, 2073 at 03:30 PM for promoter shares and 04:00 PM for ordinary shares. 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. NMB Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids by 3:00 PM till Mangsir 19 at NMB Capital located at Nagpokhari, Kathmandu or Alpine Development Bank, Hetauda. The investors applying for the auction can deposit the bid amount in the account number 00130600054010000159 of NMB Bank Limited head office located at Babarmahal, Kathmandu. Its last traded price stood at Rs  381 as on November 24, 2016. Alpine Development Bank has earned net profit of Rs 54.56 lakh in the first quarter of the fiscal year 2073/74 as per unaudited report.