Jhimruk Bikas Bank to auction 8,602 units shares at Rs 100 & above from Ashad 12; Bidders must bid for minimum of 100 units

Jhimruk Bikas Bank Limited (JHBL) will be auctioning its ordinary right shares and promoter right share to the general public from Ashad 12, 2073. According to a notice published yesterday, the bank will be selling 4,089 units of promoter right share and 4,513 units promoter share after the rights shares issued on Chaitra 17, 2072 were not fully subscribed by the investors. The bank had offered right shares at the ratio of 10:1. Only promoter shareholders can bid for the promoter shares. The auction will start from Ashad 12, 2073 and will last till Ashad19, 2016. The bid will open to conclude the auction on Ashad 20, 2073. 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 share or maximum they can apply digit that can be divided by 10. Growmore Merchant Banker Limited is the issue manager for this auction. The bank has urged the interested bidders to submit their bids by 3:00 PM till Ashad 19 at the growmore Merchant Banker Limited located at Durbarmarg, Kathmandu. The investors applying for the auction can deposit the bid amount in the account name Growmore Merchant Banker Limited and account number 02811600631816000001 of Prabhu Bank Limited located at Newroad, Kathmandu. JHBL has earned net profit of Rs. 1.28 crore in the third quarter of the fiscal year 2072/73. Share transaction of Hamro, Jhimruk and Jyoti Bikash Bank has been halted for the merger process from Mangsir 12, 2072.