Civil Bank Limited auctioning 8,67,604 units promoter shares from 16th Ashwin
Civil Bank Limited is auctioning its 8,67,604 units promoter shares.
The auction will open on 16th Ashwin and close on 30th Ashwin, 2077.
Existing promoters/promoter companies, the general public, and qualifying institutions can all bid for the auction. The minimum quantity should be 10,000 units and the minimum bid rate should be Rs. 100.
On a slightly divergent note, NEPSE had issued a notice a few days ago asking CBL to respond on the news/rumor leak that Civil Bank had sent an application to Himalayan Bank requesting for acquisition.
According to the existing rules, any news or activity that affects the stock price of a company has to be reported to NEPSE. Also, in this particular case, the acquisition/merger process should be kept confidential unless NEPSE officially announces on the matter.
Civil Bank Limited had then issued its official response to NEPSE. According to the written response, the bank stated that it did not make any formal decision about the acquisition. Also, no official notice about it was unveiled from the bank's side. CBL made it clear that although it has deployed its personnel to research on potential merger/acquisition opportunities, the committee hadn't made any official decision on the matter.
