First Microfinance auctioning unsold 11,626 units ordinary right shares at Rs 100 & above from today; LTP at Rs 1085

First Microfinance Development Bank (FMDBL) is auctioning its unsold 11,626 units ordinary right shares to the general public from today (Shrawan 15, 2074). The company is selling 11,626 units ordinary share after the rights shares issued on Mangsir 1, 2073 were not fully subscribed by the shareholders. The bank had offered 13,22,500 units right shares at the ratio of 2:1 out of which 0.87% unsubscribed, The auction will last till Shrawan 22, 2074. The bid will open to conclude the auction on Shrawan 25, 2073 at 3:00 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 ordinary shares. Global IME Capital Limited has been assigned as the issue manager for this auction. The microfinance company has urged interested bidders to submit their bids by 3:00 PM till Shrawan 22 at Global IME Capital located at Jamal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 012452461587019 maintained in the name of Global IME Capital Limited at Kumari Bank Limited. FMDBL has earned net profit of Rs 8.02 crore in the fourth quarter of the FY 2073/74. Its Last traded price (LTP) stand at 1085 as on July 27, 2017.