Last day to bid 3.71 lakh units unsold auction shares of Machhapuchchhre Bank; LTP stood Rs 350

Investors interested in acquiring the shares of Machhapuchchhre Bank Limited (MBL) have one more day to file their bids for the auctioned promoter and ordinary right shares. The deadline for submitting bids for the auctioned unsold right shares is ending today (Chaitra 3, 2073) and the bids will be opened to conclude the auction on Chaitra 4, 2073 (tomorrow). Machhapuchchhre Bank Limited (MBL) has been auctioning its unclaimed 3,23,206 units ordinary and 48,623 units promoter right shares to the general public from Falgun 27, 2073 after the rights shares issued on Mangsir 19, 2073 were not fully subscribed by the shareholders. The commercial bank had offered right shares in the ratio of 2:1. 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. Civil Capital Market Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within 3:00 PM till Chaitra 3, 2073 at Civil Capital Market Limited, Kathmandu Plaza, Kamaladi. The investors applying for the auction can deposit the bid amount in the account number 16-01-524-147235-01-4 maintained in the name of Civil Capital Market Limited at Machhapuchchhre Bank Limited, Lazimpat. Its 18^th AGM had endorsed 20.75% stock dividend for the FY 2072/73 and further right share of 12%. After the allotment of shares in this auction, and the capitalization of 20.75% bonus and further 12% right share, its paid-up capital will reach 7.39 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to Rs 8 arba by the end of FY 2073/74, MBL will need to issue a further capital hike of 8.25% against an annualized EPS of Rs 24.66 as of the end of Q2 this year. Its last closing price stood at Rs 350 as of March 15, 2017.