METRO to auction unsold 23234.40 units shares at Rs 100 & above; LTP stood Rs 321

Metro Development Bank Limited (METRO) is auctioning its ordinary right shares and promoter right shares to general public from today. According to a notice published by the development bank today, it will be selling 12,420.32 units of ordinary right share and 10,814.08 units promoter right share after the rights shares issued on Shrawan 14 were not fully subscribed by the investors. It had offered right shares in the ration of 20:3. The auction starts from today (Mangsir 8) and will last till Mangsir14. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. NCM Merchant 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 Mangsir 14 at the NCM Merchant Banking Limited located at Kamalpokhari, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 0010000132001 of the NCM Merchant Banking Limited. Alternatively, investors applying for the auction can also deposit the bid amount in the account number 9266010130008 in the Metro Development Bank . Metro development bank had earned net profit of Rs. 1.09 crore in its first quarter of the current fiscal year 2072/73. The last trading price of METRO stood at Rs321 as on November 09, 2015.