Nepal Bank auctioning 2.11 lakh units promoter shares of Citizen Investment Trust at Rs 3,050 & above from today; Bidders must bid for minimum 10,000 units

Nepal Bank Limited (NBL) is inviting sealed bids for 2,11,515 units of promoter shares of Citizen Investment Trust Limited (CIT) through an auction. As per the notice published by the bank today, the commercial bank has stated that the minimum bid amount is set at Rs 3,050 and the interested applicants must bid for a minimum of 10,000 units of the share and maximum they can apply for 2,11,515units share. Only BFIs and Insurance companies can  apply for the auctioned shares The auction starts from today (Bhadra 27, 2074) and will last till Ashwin 24, 2074.The sealed bid will be open on the same day at 3:30 PM. Siddhartha 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 Ashwin 24, 2074 at the Siddhartha Capital Limited located at Naxal, Kathmandu. Interested bidders can collect auction forms from Siddhartha Capital Limited, Naxal, Kathmandu. Good for Payement Cheque/ Manager’s Cheque or the original copy of the draft can be attached to the closed bid application in the name of Siddhartha Capital Limited. The last traded price (LTP) of CIT stands at Rs 3570  as on September 11, 2017. Earlier also, Nepal Bank had auctioned 3, 99,940 units of promoter shares of Citizen Investment Trust Limited at Rs 3500 and all the shares were not subscribed at that time.