Machapuchchhre Bank cut off price for 2.33 lakhs units auctioned ordinary shares stood at Rs. 525

Machapuchchhre Bank Limited (MBL) had auctioned its 2,33,983.79 units ordinary right share and 42,611.65 units promoter right share to the general public from Poush 30 to Magh 6, 2072. The bid was opened on Magh 7, 2072.

An official of Nabil Investment Banking Limited, which managed the auction for Machapuchchhre Bank, informed that the cut off price for 2, 33,983.79 units ordinary shares stood at Rs. 525. The highest bid amount for the auction shares received was Rs 601. Total 833 applicants submitted their bids for 2, 33,983.79 units of ordinary shares.

Similarly, for 42,611.65 units promoter right share, the bank set the cut off price of Rs. 312.20. The highest bid amount for the auction shares received was Rs. 385.87. Total 35 applicants submitted their bids for 42,611.65 units of promoter shares.

A total of 868 applicants were received in both groups while 42 applicants were allotted the auctioned shares.

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.