Nepal Bangladesh Bank auctioning unsold 9.88 lakh units right shares at Rs 100 & above from today; LTP at Rs 395

Nepal Bangladesh Bank Limited (NBB) is auctioning its 9,88,120.80 units unsold right shares to the general public from today (Ashad 14, 2074). The bank is selling 9,68,609.80 units ordinary share and 19,511 units promoter share after the rights shares issued on Baisakh 7, 2074 were not fully subscribed by the shareholders. The bank had offered 32,094,069 right shares in the ratio of 10:8. Around 3% of right shares issued by NBB were not claimed by its shareholders. The auction will last till Ashad 21, 2074. The bid will open to conclude the auction on Ashad 23, 2074 at 3 PM. 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 shares. Global IME Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within office hours till Ashad 21 at the Global IME Capital located at Jamal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account name Global IME Capital Limited and account number 001246651C of Nepal Bangladesh Bank Limited. Bidders can also apply through a Good for Payment cheque made in the name of Global IME Capital. Nepal Bangladesh Bank has earned net profit of Rs 82.76 crore in the 3rd quarter of the fiscal year 2073/74. Its last traded price stood at Rs 395 as on June 27, 2017.