Prabhu Insurance to auction unsold 48,122.81 units right share at Rs 100& above from Jestha 31; LTP at Rs 1100

Prabhu Insurance Limited (PRIN) will be auctioning its unclaimed 48,122.81 units right shares to the general public from Jestha 31, 2074. As per the notice published by the insurance today, it is selling 42,788.32 units ordinary shares and 5,334.48  units promoter shares after the right shares issued on Chaitra 30, 2073 were not fully subscribed by its shareholders. PRIN had offered right shares in the ratio of 2:1 . The auction will last till Ashad 7, 2074 and the bid will open to conclude the auction on Ashad 9, 2074 at 11 AM. 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 shares. Prabhu Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within office hours till Ashad 7, 2074 at Prabhu Capital Limited, Kamaldi, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 13511600631816000007 maintained in the name of Prabhu Capital at Prabhu Bank. Bidders can also apply through a Good For Payment cheque made in the name of Prabhu Capital Limited PRIN had earned net profit of Rs 10.63 crore up to the third quarter of the FY 2073/74. Its last traded price (LTP) stood at Rs 1,100 as on June 5, 2017.