Cutoff Price for 15,969.64 units auctioned shares of Deprosc Dev Bank at Rs 1,235; cutoff at only 5% down

Deprosc Development Bank Limited (DDBL) had auctioned 15,969.64 unclaimed ordinary right shares from Asadh 4 to Asadh 11, 2074. The bids were opened yesterday at Nabil Investment Banking Limited at 3:00 PM. An official of Nabil Invest, the issue manager of the auction, informed that the cutoff price has been set at Rs 1,235. Highest bid of Rs 1,400 was received. Actual number of allottees will be known after the allotment is completed. The last price of DDBL on the auction's last day was Rs 1,300 and the cutoff stood at only 5% less of the last price. After the capitalization of the auctioned shares, DDBL's paid up capital has reached Rs 60.61 crore. Its last traded price stands at Rs 1,285 as of yesterday (June 27, 2017).