Garima Bikash to auction 49,873 unit’s ordinary shares

ShareSansar, April 16:

Garima Bikas Bank Limited is auctioning its ordinary right shares to general public.

According to a notice published by the development bank today, it will be selling 49,873 units of ordinary right share after the rights shares issued on Falgun were not fully subscribed by the investors. Garima had offered right shares at the ratio of 4:1.

The auction starts from today Baisakh 3 and will last till Baisakh 9.

Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100.

Ace Capital limited is the issue manager for this auction.

Garima Bikas Bank Limited had posted net profit of Rs.65.27 million in its 2nd quarter company analysis of the fiscal year 2071/72.

The last trading price of the shares stood at Rs 320  yesterday, i.e. April 15.