Nepal Insurance sets cutoff price at Rs 401 for 56,344 unit auctioned right shares
Fri, Feb 27, 2015 12:00 AM
ShareSansar, February 27:
Today is the bid opening day for 56,344 units of ordinary right shares auctioned by Nepal Insurance Company Limited (NICL). Nepal Insurance had closed the bids for the unclaimed right shares on February 24.
An official with Growmore Merchant Bank, which managed the auction for NICL, informed that the cutoff price for the shares was set at Rs 401. The highest bid amount the shares received was Rs 500. Out of 168 applicants who submitted their bids, only 5 were allotted the shares.
The last trading price of the shares stood at Rs 395 per share at yesterday’s market closing time.
