Last day to bid 48,122.81 units unclaimed right shares of Prabhu Insurance; LTP stood at Rs.1040

Prabhu Insurance Limited (PRIN) is closing its  unclaimed 48,122.81 units right shares auction to the general public today (Asadh 7, 2074). PRIN has been selling 42,788.32 units ordinary shares and 5,334.48 units promoter shares after the right shares issued on Chaitra 30, 2073 were not fully subscribed by its shareholders. PRIN had offered 1,925,079  units right shares in the ratio of 2:1. Around 2.5% shares were unclaimed in this right share issue. The bid will open to conclude the auction on Ashad 9, 2074 at 11 AM. 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. Prabhu Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within office hours till Ashad 7, 2074 at Prabhu Capital Limited, Kamaldi, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 13511600631816000007 maintained in the name of Prabhu Capital at Prabhu Bank. Bidders can also apply through a Good For Payment cheque made in the name of Prabhu Capital Limited PRIN had earned net profit of Rs 10.63 crore up to the third quarter of the FY 2073/74. Its last traded price (LTP) stood at Rs 1,040 as on June 20, 2017.