Mirmire Microfinance auctioning 1,940 units unsold right shares at Rs 100 & above from today; LTP at Rs 3176

Tue, Aug 22, 2017 7:25 AM on Latest, Featured, Stock Market,
Mirmire Microfinance Development Bank Limited (MMFDB) is auctioning its 1,940 units unclaimed right share to the general public from today (Bhadra 6, 2074). The microfinance company is selling 1,940 units ordinary shares after the right shares issued on Ashad 5, 2074 were not fully subscribed by its shareholders. It has offered right shares at the ratio of 1:0.5. The auction will last till Bhadra 14, 2074. The bid will open to conclude the auction on Bhadra 16, 2074 at 11:00AM. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units of share. The number of shares applied must be a multiple of 10. Prabhu Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids by 3:00 PM till Bhadra 14 at Prabhu Capital located at Kamaladi, Kathmandu. The investors applying for the auction can deposit the bid amount in the name of Prabhu Capital Limited in account number 13511600631816000004 of Prabhu Bank Limited located at Kamaladi, Kathmandu. MMFDB has earned net profit of Rs 1.54 crore in the fourth quarter of the last FY 2073/74. Its last traded price stood at Rs 3176 as on August 21, 2017. Also, MMFDB will be convening its SGM on Bhadra 26, 2074 to endorse 100% right shares and to increase authorized capital to Rs 20 crore along with expansion of 10 more working districts.