Machapuchchhre Bank to auction unsold 276595.44 units shares at Rs 100 & above from today; LTP stood Rs. 560

Machapuchchhre Bank Limited (MBL) is auctioning its ordinary right shares and promoter right shares to general public from Poush 30, 2072 (today). According to a notice published by the bank today, it will be 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. The auction has started from today and will last till Magh 6. 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 Magh 06 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.