Karnali Dev. Bank auctioning 79,238 units unsold right shares at Rs 100 & above from today; LTP at Rs 403

Karnali Development Bank Limited (KRBL) is auctioning its ordinary and promoter right share to the general public from today (Mangsir 16, 2073). The development bank is selling 54,290 units promoter share and 24,948 units ordinary shares after the rights shares issued on Jestha 2, 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 Mangsir 23, 2073. The bid will open to conclude the auction on Mangsir 26, 2073 at 1:00 PM for promoter shares and 2:00 PM for ordinary shares on the same day. 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. Prabhu Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids by 3:00 PM till Mangsir 23 at Prabhu Capital located at Kamaladi, Kathmandu or Karnali Development Bank, Nepalgunj, Banke. The investors applying for the auction can deposit the bid amount in the account number 13511600631816000003 of Prabhu Bank Limited located at Kamaladi, Kathmandu. Its last traded price stood at Rs 403 as on November 30, 2016. Karnali Development Bank has net loss of Rs 51.47 lakh in the first quarter of the current fiscal year 2073/74 as per unaudited report.