Laxmi Bank to auction unsold 1, 86, 462 units ordinary shares at Rs 100 & above till Ashwin 27; LTP stood Rs 540

Thu, Oct 8, 2015 10:38 AM on Latest, Featured, Stock Market,
Laxmi Bank Limited (LBL) is auctioning its ordinary right shares to general public from today. According to a notice published by the bank today, it will be selling 186,462 units of ordinary right share after the rights shares issued on Ashad 6 were not fully subscribed by the investors. It had offered 10:3 ratio right shares. The auction starts from today (Ashwin 21) and will last till Ashwin 27. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. The bank has urged the interested bidders to submit their bids by 3:00 PM till Ashwin27 at the NMB Capital Limited located at Babarmahal, Kathmandu. NMB Capital limited is the issue manager for this auction. The investors applying for the auction can deposit the bid amount in the account name NMBCL laxmi Right share and account number 00534009977 of the Laxmi Bank Limited. Laxmi Bank had earned net profit of Rs 43.20 crore in its fourth quarter of the last fiscal year 2071/72. The last trading price of LBL stood at Rs 540 on October 7, 2015.