Deva Bikas Bank to auction unclaimed 6.17 lakh units shares at Rs 100 & above from Baisakh 28; LTP at Rs 298

Deva Bikas Bank Limited (DBBL) will be auctioning its ordinary and promoter right shares to the general public from Baisakh 28, 2074. As per the notice published by the development bank today, it is selling 2,34,318.01 units ordinary shares and 3,83,297.38 units promoter shares after the right shares issued on Magh 9, 2073 were not fully subscribed by its shareholders. DBBL had offered right shares in the ratio of 2:1. The auction will last till Jestha 4, 2074 and the bid will open to conclude the auction on Jestha 5, 2074 at 2:00 PM. 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. NIBL Capital Markets Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within office hours till Jestha 4, 2074 at NIBL Capital Markets Limited, Lazimpat, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 0124524615330016 maintained in the name of NIBL Capital Markets Limited at Kumari Bank. DBBL has earned net profit of Rs 19.90 crore in the third quarter of the fiscal year 2073/74. Its last traded price stands at Rs 298 as of yesterday (April 24, 2017).