Mission Development Bank auctioned unsold 2, 17,256 units shares at Rs 100 & above; LTP stood Rs.172

Mission Development Bank Limited (MIDBL) has started auctioning its ordinary right shares and promoter right shares to general public from Mangsir 13, 2072 (yesterday). According to a notice published by the development bank today, it will be selling 43,606 units of ordinary right share and 1, 73,650 units promoter right share after the rights shares issued on Ashwin 20 were not fully subscribed by the investors. It had offered right shares in the ratio of 2:1. The auction has already started from yesterday (Mangsir 13) and will last till Mangsir 20. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Vibor Capital 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 20 at the Vibor Capital Limited located at Krishnagalli, Lalitpur, Kathmandu or also submit their bids in the head office of Mission Development bank located in Butwal, Rupandehi. The investors applying for the auction can deposit the bid amount in the account number 0010061802 of the Vibor Capital Limited. Alternatively, investors applying for the auction can also deposit the bid amount in the account number 1001L0011732 in the Mission Development Bank, Butwal Branch. Mission development bank had earned net profit of Rs. 66.51 lakh in its first quarter of the current fiscal year 2072/73. The last trading price of MIDBL stood at Rs. 172 as on October 25, 2015. Click Here For Announcement