Kumari Bank to auction unsold 3.66 lakh units right shares at Rs 100 & above from Jestha 14; LTP at Rs 348

Kumari Bank Limited (KBL) will be auctioning its 3,66,562.66 units unclaimed right shares to the general public from Jestha 14, 2074. As per the notice published by the bank today, the bank is selling 86,092.66 units of promoter right share and 2,80,470 units ordinary share after the rights shares issued on Chaitra 6, 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 Jestha 21, 2074. The bid will open to conclude the auction on Jestha 22, 2074 at 3:00 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 or maximum they can apply digit that can be divided by 10. Siddhartha 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 Jestha 21 at the Siddhartha Capital located at Narayanchaur, Naxal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account name Siddhartha Capital Limited Right Share Bid and account number 00115253860 of Siddhartha Bank Limited located at Siddhartha Bank Limited, Hattisar, Kathmandu. Its last traded price stood at Rs 348 as on May 11 , 2017. KBL has earned net profit of Rs 27.93 crore in the second quarter of the fiscal year 2073/74 as per its unaudited report.