Nepal SBI Bank extends ongoing 4.69 lakh units auction shares closing date till Shrawan 17

Nepal SBI Bank Limited (SBI) has published a notice regarding extension of auction closing date. The closing date of the auction has been extended to Shrawan 17, 2074. Earlier the closing date was set on Shrawan 16, 2074. The bid will open to conclude the auction on Shrawan 19, 2074 at 3:30 PM. The bank is selling 4.69.052.60 units ordinary share from Shrawan 9 after the rights shares issued on Jestha 7, 2074 were not fully subscribed by the shareholders. The bank had offered 19,919,423.60 units right shares at the ratio of 10:4 and around 2.35% right shares were left unclaimed. 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 ordinary shares. NMB Capital Limited has been assigned as the issue manager for this auction. The bank has urged interested bidders to submit their bids by 3:00 PM till Shrawan 16 at NMB Capital located at Nagpokhari, Naxal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 00130600054010000193 maintained in the name of NMBCL- Right NSBL 2073/74 at NMB Bank Limited or also can deposit the amount in the account number 17735240100098 of Nepal SBI Bank. Nepal SBI Bank has earned Rs 1.10 arba in the third quarter of the fiscal year 2073/74. After the adjustment of the rights shares, the bank’s total paid-up capital will reach Rs 6.97 arba from the existing Rs 4.97 arba. The bank has authorized capital of Rs 10 arba. Its public-promoter share structure stands at 70:30 ratio. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, SBI will need to issue a further capital hike of Rs 1.03 arba (15%). Its last traded price stood at Rs 929 as of July 27, 2017.