Last day to bid Machapuchchhre Bank 276595.44 units auction shares; LTP stood Rs 560, Bid opens tomorrow

Interested investors in acquiring the shares of Machapuchchhre Bank Limited (MBL) have one more day to file their bids for the ordinary and promoter right shares. Today is the last day to bid for the auction shares i.e. Magh 6 till 3:00 PM and the bids will be open to conclude the auction on Magh 7 (tomorrow). The bank was selling 2,33,983.79 units of ordinary right share and 42,611.65 units promoter right share after the rights shares issued on Ashwin 17 were not fully subscribed by the investors. It had offered right shares in the ratio of 5:1. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Nabil Investment Banking Limited is the issue manager for this auction. The bank has urged the interested bidders to submit their bids by 3:00 PM till today at the Nabil Investment Banking located at Naxal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 1601524305124039 of Nabil Investment Banking Limited at Machapuchchhre Bank Limited. The last trading price of the shares stood at Rs 560 as on September 17 2015. The trading of Machapuchchhre Bank has halted as it has entered into the merger process with Janata Bank Limited.