Kankai Bikas Bank extends 5.49 lakh units auction closing date till Sunday

Kankai Bikas Bank Limited (KNBL) has extended its auction closing date till Sunday (Kartik 12, 2074). Kankai Bikas Bank has been auctioning its unclaimed 5,49,937 units right shares to the general public from Ashwin 31, 2074. The closing date was set for today but due to the public holiday declared by the Government yesterday, the company decided to extend its closing date. As per the official of Siddhartha Capital, issue manager for the auction,  “the closing date for the auction share is extended till Sunday due to public holiday.” It is selling 3,81,650 units promoter shares and 1,68,287 units ordinary shares after the right shares issued on Shrawan 9 to Bhadra 11, 2074 were not fully subscribed by its shareholders. Kankai Bikas Bank had offered right shares in the ratio of 100:214 (214%). Around 17.13% of the total issue was unsubscribed. 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 and the shares applied for should be a multiple of 10. The development bank has urged interested bidders to submit their bids within banking hour till Kartik 12, 2074 at Siddhartha Capital Limited, Naxal, Kathmandu or also in bank’s head office located at Damak – 6, Jhapa. The investors applying for the auction can deposit the bid amount in the account number 00115255862 maintained in the name of Siddhartha Capital Limited at Siddhartha Bank Limited. Also applicants can submit their application through Good for Payment Cheque. KNBL has earned net profit of Rs 3.87 crore in the fourth quarter of the FY 2073/74. Its last traded price (LTP) stood at Rs 218 as of trading day.