Kakrebihar Bikas Bank to auction 17,354 units promoter shares at Rs 100 & above from Ashad 20; Bidders must bid for minimum of 100 units

Kakrebihar Bikas Bank Limited (KKBL) will be auctioning its promoter right shares from Ashad 20, 2073. As per the notice published by the bank today, The development bank will be selling 17,354 units promoter right share after the rights shares issued on Kartik 16, 2072 were not fully subscribed by the investors. Only promoter shareholders can bid for the promoter shares. The auction will start from tomorrow and will last till Ashad 27, 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 applicants must bid for a minimum of 100 units of the scrip or above. 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 27 at the Growmore Merchant Banker 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 02811600631816000001of Prabhu Bank Limited located at Newroad, Kathmandu. The last trading price of the shares stood at Rs 411 as on  June 16, 2016.