Cut off price for 3.99 lakh units auctioned promoter shares of Citizen Investment Trust by Nepal bank stood Rs 3,503; 6 applicants bid for 3.39 lakh unit shares

Nepal Bank Limited (NBL) had invited sealed bids for 3, 99,940 units promoter shares of Citizen Investment Trust Limited (CIT) through an auction from Shrawan 17, 2073 till Bhadra 5, 2073 . The closed bid was opened today at its issue manger Siddhartha Capital Limited at 3:15 PM in presence of the bidders and concerned officials. According to official of Siddhartha Capital Limited,   the bank set the cut-off price for the 3,99,940 units promoter shares of Citizen Investment Trust at Rs 3,503.  The highest bid amount for the auction shares received was Rs 3,523. Of the total 3.99 lakh units share, only 3.39 lakh units shares were sold. Total 6 applicants submitted their bids for 3,39,000 units promoter shares of CIT and all of them got shares . Remaining 60, 940 units shares were unsold. The minimum bid amount was set at Rs 3,500 and the interested applicants must bid for a minimum of 25,000 units of the share and maximum they can apply for 3, 99,940 units share. The last traded price (LTP) of CIT stood at Rs 4580 as August 22, 2016.