Last day to bid 61.58 lakh unit promoter shares of Bank of Kathmandu; Nabil Investment Banking manages the auction

Bank of Kathmandu Limited (BOKL) is closing its auction for promoter shares to the general public today (Mangsir 29, 2074). It is selling 61,58,067 units promoter shares at Rs 100 & above. The auction will last till Mangsir 22, 2074. 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. Nabil Investment Banking Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within banking hour till Mangsir 29, 2074 at Nabil Investment Banking Limited, Naxal, Kathmandu or also in designated branches of Bank of Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 065900000014524 maintained in the name of Nabil Investment Banking Limited at Bank of Kathmandu or can apply by issuing Good For Payment cheque. After the merger of Bank of Kathmandu Limited and Lumbini Bank Limited, the promoter ownership of the merged bank was diluted to 45.64%. As per NRB’s regulation, a bank must have at least 51% promoter ownership. Thus after this auction, promoter public ratio will be 51%-49%. Its current paid up capital stands at Rs 5.62 arba. After auction, it will reach to Rs 6.24 arba. To meet the capital requirement of Rs 8 arba, it should further hike its capital by Rs 1.76 arba (around 28%). BOKL had earned Rs 22.41 crore in the first quarter of the FY 2074/75. Click here to see announcement: