Laxmi Bank auctioning 3.94 lakh units ordinary shares at Rs 100 & above from today; LTP at Rs 393

Laxmi Bank Limited (LBL) is auctioning its unclaimed right shares from today (Asadh 16, 2074). The commercial bank is auctioning 3,94,939 units ordinary shares after the right shares issued from Baisakh 3 to Jestha 7, 2074 were not fully subscribed by its shareholders. The bank had floated a total of 3,15,90,303 units right shares in the ratio 1:1 and around 1.25% right shares were left unclaimed. The auction will last till Asadh 23, 2074 and the bids will be opened to conclude the auction on Asadh 25, 2074. Laxmi Capital Market Limited is the issue manager for this auction. Interested investors can collect bid forms from Laxmi Capital Market Limited, New Baneshwor, Kathmandu and submit their bids by 1:00 PM on Asadh 23, 2074. The bank has urged all bidders to deposit the bid amount in account number 00534010658 maintained in the name of Laxmi Capital Market Limited at Laxmi Bank Limited. The bank is also auctioning unsubscribed promoter shares, to be auctioned only for its existing promoters. The bank has urged interested promoters to contact the Company Secretary’s office in its corporate building in Hattisar, Kathmandu for this purpose. Laxmi Bank has earned net profit of Rs 56.91 crore in the third quarter of the FY 2073/74. As per the bank, all right share allottees (including the auction allottees) are eligible for 18.29% bonus share of the bank for FY 2072/73. Its paid up capital after issuance of 18.29% bonus share will reach Rs 7.47 arba. Its last traded price stood at Rs 393 as on June 28, 2017.