Kanchan Dev. Bank to auction unsold 7,046 units ordinary shares at Rs 100 & above from today; LTP stood Rs. 357

Kanchan Development Bank Limited (KADBL) is auctioning its ordinary right shares to general public from Magh 29, 2072 (today). According to a notice published by the development bank today, it will be selling 7,046 units of ordinary right share after the rights shares issued on Poush 9, 2072 were not fully subscribed by the investors. It had offered right shares in the ratio of 4:1. The auction has started from today and will last till Falgun 6. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. 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 Falgun 06 at the Global IME Capital located at Rastriya Nach Ghar, Third Floor Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 0010000408CC of Global IME Capital Limited at Citizens Bank International Limited. The last trading price of the shares stood at Rs 357 as on February 8, 2016.