Kabeli Bikas Bank to auction unsold 8,891 unit ordinary shares at Rs 100 & above from tomorrow; LTP stood Rs 605

Kabeli Bikas Bank Limited (KEBL) will be auctioning its ordinary right shares to general public from tomorrow (Chaitra 17, 2072). According to the notice published by the bank today, The development bank is selling 8,891units of ordinary right share after the rights shares issued on Baisakh 10, 2072 were not fully subscribed by the investors. It had offered right shares in the ratio of 2:1. The auction starts from tomorrow and will last till Chaitra 23. 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 50 units of share and maximum they can apply for up to 500 unit of share. Global IME Capital Limited is the issue manager for this auction. The bank has urged the interested bidders to submit their bids by 3:00 PM till Chaitra 23 at the Global IME Capital Limited located at Rastriya Nach Ghar, Jamal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account name Global IME Capital Limited and account number 0010000379CC of Citizens Bank International Limited located at Kamaladi, Kathmandu. The last trading price of the shares stood at Rs 605 as on March 27, 2016.