Kakrebihar Bikas Bank to auction unsold 79,743 units shares at Rs 100 & above from Chait 14; LTP stood Rs 292

Kakrebihar Bikas Bank Limited (KKBL) will be auctioning its ordinary and promoter right shares to general public from Chaitra 14, 2072. According to a notice published by the development bank today, it will be selling 14,938 units of ordinary right share and 64,805 units promoter right share after the rights shares issued on Kartik 16, 2072 were not fully subscribed by the investors. It had offered right shares in the ratio of 1:0.5. The auction will start from Chaitra 14 and will last till Chaitra 22. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. 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 Chaitra 22 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 292 as on February 27, 2015.