Kanchan Dev. Bank to auction unsubscribed 13,182 units ordinary shares from Falgun 26 at Rs 100 & above; LTP at Rs 280

Kanchan Development Bank Limited (KADBL) will be auctioning its ordinary right share to the general public from Falgun 26, 2073. As per the notice published by the development bank today, the bank will be selling 13,182 units ordinary shares after the rights shares issued on Poush 18, 2073 were not fully subscribed by the investors. The bank had offered right shares at the ratio of 2:1. The auction will last till Chaitra 4, 2073. The bid will open to conclude the auction on Chaitra 6, 2073 at 3:30 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 share. Global IME Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids by 2:30 PM till Chaitra 4 at Global IME Capital located at Jamal, Kathmandu. The investors applying for the auction can deposit the bid amount in the name of Global IME Capital Limited in account number 0124524613922013 of Kumari Bank Limited located at Putalisadak, Kathmandu. Its last traded price stood at Rs 280 as on March 2, 2017.