Araniko Development auctioning 51,090 units ordinary and 43,759 units promoter shares from Magh 10

Araniko Development Bank Limited (ARDBL) is auctioning its ordinary and promoter shares to the general public from Magh 10, 2073. The company is selling 43,759.93 units promoter shares and 51,090.41 units ordinary shares after the rights shares issued on Kartik 8, 2073 were not fully subscribed by the investors. The development bank had offered right shares at the ratio of 10:3.6. The auction will last till Magh 24, 2073. The bid will open to conclude the auction on Magh 25, 2073 at 3:00 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 units of share. The development bank has urged interested bidders to submit their bids by 3:00 PM till Magh 24 at Siddhartha Capital Limited, Anamnagar, Kathmandu or Araniko Development Bank Limited, Corporate Office, Dhulikhel, Kavre. Siddhartha Capital Limited is the issue manager for this auction. The investors applying for the auction can deposit the bid amount in the name of Siddhartha Capital Limited (Account number 00115230456) at Siddhartha Bank Limited or Araniko Development Bank Limited (Account number 00104M00052988000002). Its last traded price stood at Rs 370 as on October 16, 2016 and its share trading is halted in NEPSE due to its ongoing acquisition process with Century Commercial Bank. Araniko Development Bank Limited has earned Rs 8.17 million during the first quarter of the current fiscal year 2073/74.