Investor(s) off load shares of Sanima Bank through Broker #4; Broker #4 sells Rs 20.31 crore worth of Sanima shares

Investor(s) are off loading shares of Sanima Bank Ltd. from broker #4, Opal Securities Investment (Pvt) Ltd located at Putalisadak, Kathmandu.  The broker #4 has sold 2.95 lakh units of shares of Sanima bank worth more than Rs 20.31 crore in the month of January, 2016. This figure represents the 56% of the total sold amount in Sanima shares by broker #4 alone in the month of January, 2016.

The current share price of Sanima Bank hovers around Rs 700/unit. On Thursday, January 21,  Broker no. 4 sold 59,000 units shares of Sanima  bank worth Rs 4.12 crore. On that very day, 77,547 units shares of Sanima Bank  worth Rs 5.42 crore was traded in NEPSE. Approximately 76% by volume and price each of the total traded shares of Sanima Bank on Thursday was sold by Broker#4.

Attempts to contact the broker #4 for a comment were unsuccessful.

The huge sell of this particular stock may suggest that the big investor(s) are preparing for the issuance right shares from the various listed companies. Almost all BFIs and most of the insurance companies have planned to issue right shares in coming month. This kind of sell off could be a common practice among investors as they will need money to subscribe the right shares.

The following table details the selloff of shares of Sanima Bank by Broker #4 for the month January 2016: