Nepal Credit and Commerce Bank allots 79.10 Lakh units of auctioned promoter and ordinary right shares; non-allottees to get refund form today

Nepal Credit and Commerce Bank Limited (NCCB) had allotted its unsold promoter and ordinary right shares after the conclusion of the auction and is refunding money to the non-allottee, directly to their bank accounts. The bank was auctioning more than 79 Lakh units of unsold promoter and ordinary right shares.

The issue manager for the purpose of auction was Sunrise Capital Limited. As per the notice published, a total of 123 applications were received for unsold promoter right shares. 35 applicants who placed their bids within the rage of Rs.113 to Rs.101.10 have been fully allotted shares. 5 applicants who placed their bids at Rs.101 per share, have been partially allotted shares. Total of 40 applicants have been allotted 6,516,795 units of shares as the issue is fully subscribed.

Similarly, 5,027 applicants were received for unsold ordinary right shares. Out of the total applicants, 136 applicants who placed their bids within the range of Rs.221 to Rs.201.01 have been fully allotted shares, while 64 applicants who placed their bids at Rs.201 per share, have been partially allotted shares. Total of 200 applicants have been allotted 1,394,198 units of shares as the issue is fully subscribed.

Currently, the paid up capital of the bank is Rs 4.67 arba. After the adjustment of the right shares, the paid-up capital of the bank will rise to Rs 7.01 arba. The bank will likely distribute bonus shares for the remaining Rs 99 crore to meet the minimum capital requirement of Rs 8 arba.

The LTP of NCCB is Rs 218. Similarly, the promoter shares of NCC Bank (NCCBPO) was last traded on December 30, 2018, at Rs 130.