Cut off price for 2.08 lakh units auctioned ordinary shares of Century Commercial Bank stood Rs 307

Century Commercial Bank Limited (CCBL) had auctioned its 2, 08, 337 units ordinary right share and 2, 52, 908 units promoter right share to the general public from Kartik 28, 2073 till Mangsir 12, 2073. The bid was opened today at 12:00 PM. An official of Civil Capital Markets Limited, which managed the auction for Century Commercial Bank, informed that the cut off price for 2, 08, 337 units ordinary shares stood at Rs 307. The highest bid amount for the auction shares received was Rs 500. Total 500 applicants submitted their bids for 2, 08, 337 units ordinary shares. Similarly, for 2, 52, 908 units promoter right share, the bank set the cut off price of Rs. 126.  The highest bid amount for the auction shares received was Rs. 301. Total 28 applicants submitted their bids for 2, 52, 908 units promoter shares. It is only tentative data final data may vary, added official. Recently, Century Bank had signed Memorandum of Understanding (MOU) to acquire  Innovative  and Araniko Development Bank. After acquisition of Innovative and Araniko Development Bank, the bank’s paid up capital will be more than Rs 5 arba. Century Commercial Bank had earned net profit of Rs 7.42 crore in the first quarter of the current fiscal year 2073/74 as per unaudited report. The last trading price (LTP) of the shares stood at Rs 367 today (November 28, 2016).