Garima Bikas to auction unsubscribed 14,994 units ordinary shares at Rs 100 & above

Garima Bikas Bank Limited (GBBL) is auctioning its ordinary right shares to general public from today. According to a notice published by the development bank today, it will be selling 14,994 units of ordinary right share after the rights shares issued on Chaitra 9 were not fully subscribed by the investors. The auction starts from today ( Ashwin 17) and will last till Ashwin 24. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. The development bank has urged the interested bidders to submit their bids by 3:00 PM of Ashwin 24 at the Ace Capital Limited located at Laldurbar , Kathmandu Ace Capital limited is the issue manager for this auction. The investors applying for the auction can deposit the bid amount in the account number 0011043901CA5 of the Ace development Bank Limited. Alternatively, investors applying for the auction can also deposit the bid amount in the account number 92670601006 in Pokhara branch of Garima Bikas Bank Limited. GBBL had earned net profit of Rs 16.31 crore in its fourth quarter of the last fiscal year 2071/72. The last trading price of the shares stood at Rs 305 on April 23, 2015. Click Here To Read : Garima Bikas Bank listed 14, 85,006 unit shares on NEPSE