Nepal Grameen extends 87,564.74 units auction closing date of promoter shares of RMDC till Bhadra 25; NB Insurance extends 28,580 units auction closing date till Bhadra 23

Nepal Grameen Bikas Bank Limited  (NGBBL) and NB Insurance Company Limited (NBIL) have published a notice regarding extension of auction closing date. The closing date of the auction of promoter shares of RMDC by Nepal Grameen has been extended to Bhadra 25, 2074 and the bid will be opened to conlcude the auctionon Bhadra 26, 2074 at 4 PM. Likewise, the closing date of the auction of NB Insurance has been extended to Bhadra 23 and bid will open to conclude the auction on Bhadra 25, 2074 at 3:30 PM. Nepal Grameen Bikas Bank Limited (NGBBL) has been auctioning its 87,564.74 units promoter shares of Rural Microfinance Development Centre (RMDC) from Bhadra 15, 2074 to promoters as well as general public. Minimum bid price of Rs 401 per share has been set for the auction, which means the bid price must be equal to or greater than Rs 401 per share. Applicants must apply for a minimum of 1,000 units and they can apply for up to 87,564.74 units of promoter shares. NMB Capital Limited is the issue manager for this auction. Interested bidders can collect auction forms from NMB Capital Limited, Nagpokhari, Naxal, Kathmandu and the bid amount can be deposited in the account number 00100100054010000003 maintained in the name NMB Capital Limited – Issue Account at NMB Bank Limited. Nepal Grameen Bikas Bank has earned net profit of Rs 16.14 crore in the fourth quarter of the FY 2073/74. Nepal Grameen Bikas Bank is also going to issue a further 9,75,000 units shares as a part of its Further Public Offering. NGBBL will be issuing the FPO shares without adding any premium i.e. at Rs 100 per share only. Similarly, NB Insurance Company Limited (NBIL) has been ­auctioning its unclaimed 28,580 units right shares from Bhadra 14, 2074. Global IME Capital Limited is the issue manager for this auction. Interested investors can collect bid forms from Global IME Capital Limited, Jamal, Kathmandu and submit their bids by 3:00 PM on Bhadra 22, 2074. The insurance company has urged all bidders to deposit the bid amount in account number 0124524615847019 maintained in the name of Global IME Capital Limited at Kumari Bank Limited. After the adjustment of the rights shares, the non-life insurance company’s total paid-up capital reached Rs 54 crore from existing Rs 27 crore. As per Insurance Board’s recent directive for all non-life insurance companies to increase their paid up capital to a minimum of Rs 1 arba by the end of FY 2074/75, NBIL will need to issue a further capital hike of Rs 46 crore (around 86%). Its last traded price (LTP) stood at Rs 1230 as on August 31, 2017.