Civil Bank auctioning unsold massive 42.37 lakh units right shares at Rs 100 & above from today; LTP at Rs 155

Civil Bank Limited (CBL) is ­auctioning its unclaimed right shares from today (Falgun 23, 2074). The commercial bank is auctioning 32,44,600.25 unit promoter shares and 9,92,819.5 units ordinary shares after the right shares issued from Mangsir 22, 2074 to Magh 12, 2074 were not fully subscribed by its shareholders. The bank had floated a total of 20,740,887 units right shares in the ratio 10:4 (25%) and around 20.43% right shares were left unclaimed. The auction will last till Chaitra 1, 2074. Laxmi Capital Market Limited is the issue manager for this auction. 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 shares. But only existing promoter of the bank are eligible to apply for promoter shares. Interested investors can collect bid forms from Laxmi Capital Market Limited, Baneshwor, Kathmandu and submit their bids within office hours on Chaitra 1, 2074. The bank has urged all bidders to deposit the bid amount in account number 00534010757 maintained in the name of Laxmi Capital Market Limited at Laxmi Bank Limited. CBL’s current paid up capital remains at Rs 5.18 arba. After issuance of 40% right share, its paid up capital will reach Rs 7.25 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba, CBL should increase a further capital hike of Rs 75 crore (around 10%). It had earned Rs 21.97 crore in the second quarter of the FY 2074/75. Its last traded price stood at Rs 155 as of last trading day. See the auction notice here