Kailash Bikas Bank auctioning unsold 73,554 units shares at Rs 100 & above from today; LTP at Rs 377

Kailash Bikas Bank Limited (KBBL) is auctioning its unclaimed ordinary and promoter right shares to the general public from today (Baisakh 20, 2074). It is selling 62,573 units ordinary shares and 10,981 units promoter shares after the right shares issued on Falgun 6, 2073 were not fully subscribed by its shareholders. KBBL had offered right shares in the ratio of 5:1. The auction will last till Baisakh 28, 2074 and the bid will open to conclude the auction on Baisakh 29, 2074 at 2:30 PM. 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 shares. Global IME Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within office hours till Baisakh 28, 2074 at Global IME Capital Limited, Jamal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 5444463732524001 maintained in the name of Global IME Capital Limited at NIC Asia Bank. Bidders can also apply through a Good For Payment cheque made in the name of Global IME Capital Limited KKBL has earned net profit of Rs. 26.38 crore in the second quarter of the fiscal year 2073/74. Its last traded price stands at Rs 377 as of yesterday (May 2, 2017).