Miteri Dev. Bank to auction 59,738.6 unit shares at Rs 100 & above from today

Miteri Development Bank Limited (MDB) is auctioning ordinary and promoter right shares to the general public from today (Poush 26, 2073). The development bank is selling 17,479.60 units promoter shares and 42,259 units ordinary shares after the rights shares issued on Kartik 1, 2073 were not fully subscribed by the investors. The bank had offered right shares in the ratio of 2:1. The auction will last till Magh 4, 2073. The bid will open to conclude the auction on Magh 6, 2073 at 1:00 PM for promoter shares and 2:00 PM for ordinary shares. 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. 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 Magh 4 at Prabhu Capital located at Kamaladi, Kathmandu or Miteri Development Bank, Dharan, Sunsari. The investors applying for the auction can deposit the bid amount in the account number 00111600790466000001 of Prabhu Bank Limited at Kamaladi, Kathmandu or through “Good for Payment” Cheque in the name of Prabhu Capital Limited. Its last traded price stood at Rs 492 as of January 9, 2017. Miteri Development Bank has earned net profit of Rs 2.58 crore in the first quarter of the fiscal year 2073/74 as per its unaudited report.