Nepal SBI to auction 89,763 units ordinary shares till 29th Mangsir; bidders to get 22% div.

ShareSansar, December 9:

Nepal SBI Bank Limited (NSBI) has invited bids to auction 89,763.96 units’ ordinary shares to the general public starting from today. Out of the total 89,763.96 units; 79,790.19 units are unsubscribed (2:1 ratio) Right Share which was approved by the bank 15th AGM and the remaining 9,973.77 units are the cancelled bonus share of over the years by the bank.

Issuing a notice today, one of the leading commercial bank has urged the interested bidders to submit their bids by 3:00 PM on Mangsir 29 at the NMB Capital Limited Head office at Babarmahal, which it managing the issue.

As the minimum bid price set for an auction is Rs 100, the bidders have to quote more than that amount to participate in the auction process. The bidders with the maximum amount will be allocated shares as per the published notice by the bank.

They must also bid for at least100 units of the ordinary shares while they can bid for the maximum units divided by 10.  The total bid amount must be deposited in advance in the given account number. The investors applying for more than Rs 10 lakh must compulsory submit their PAN number.

The bids will be opened to complete the auction on Poush 1, 2071.

Nepal SBI is auctioning the unclaimed ordinary right shares which were issued almost five years back.

The last traded price of NSBI on NESPE is Rs 960 which was traded on December 8, 2014.

“Investors will be entitled to the proposed 22 percent dividend which includes15 percent bonus shares and 7 percent cash dividend of the last fiscal year 2070/71, says NMB Capital senior official Mr. Kamal Nepal to the ShareSansar today.

The bank has already announced 12% bonus and 7% cash dividend from the profit of FY 2070/71.

For Complete Announcement: CLICK HERE