Nepal Community Development Bank to auction unclaimed 5.97 lakh units shares at Rs 100 & above from Poush 7; LTP at Rs 158

Nepal Community Development Bank Limited (NCDB) will be auctioning its unclaimed 5,97,349.80 units right shares to the general public from Poush 7, 2074. As per the notice published by the development bank today, it is selling 67,106.64 units ordinary shares and 5,30,243.16 units promoter shares after the right shares issued from Ashwin 26 to Kartik 29, 2074 were not fully subscribed by its shareholders. It had offered right shares in the ratio of 1:1.2. Around 22.59% shares were unsubscribed. The auction will last till Poush 16, 2074. 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 and the shares applied for should be a multiple of 10. Only existing promoters are eligible to apply for promoter shares. NIBL Capital Markets Limited is the issue manager for this auction. The development bank has urged interested bidders to submit their bids within banking hour till Poush 16, 2074 at NIBL Capital Markets Limited, Lazimpat, Kathmandu or also in designated branches of Nepal Investment Bank Limited (NIB) and NCDB. The investors applying for the auction can deposit the bid amount in the account number 0124524616515017 maintained in the name of NIBL Capital Markets Limited at Kumari Bank, Putalisadak or can appy through Good for Payment cheque. NCDB’s current paid up capital remains at Rs 22.02 crore. After adjustment of 120% right share, its paid up capital will reach Rs 48.46 crore. It had earned net profit of Rs 3.61 crore in the fourth quarter of the FY 2073/74. Its last traded price (LTP) stood at Rs 158 as of last trading day. Announcement: