Chhimek Laghubitta to auction unsold 23,467 units shares at Rs 100 & above ; LTP stood Rs 1785

Chhimek Laghubitta Bikas Bank Limited (CBBL) is auctioning its ordinary right shares and promoter right shares to general public from today. According to a notice published by the micro finance today, it will be selling 23,467 units of ordinary right share and 3,970 units promoter right share after the rights shares issued on Shrawan 12 were not fully subscribed by the investors. It had offered 2:1 ratio right shares. The auction starts from today (Ashwin 20) and will last till Ashwin 27. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. The microfinance bank has urged the interested bidders to submit their bids by 3:00 PM till Ashwin27 at the NMB Capital Limited located at Babarmahal , Kathmandu. NMB Capital limited is the issue manager for this auction. The investors applying for the auction can deposit the bid amount in the account number 00100001853F of the NMB Bank Limited. Chhimmek Laghubitta Bikas Bank had earned net profit of Rs 16.31 crore in its fourth quarter of the last fiscal year 2071/72. The last trading price of CBBL stood at Rs 1785 on October 6, 2015. The company had announced 40% bonus and 10% cash dividend to its shareholders from the profit of FY 71/72. The decision is yet to be approved by the NRB and the company's upcoming AGM.