Preliminary Cut off price for 4.32 lakh units ordinary shares of Prime Bank to be between Rs 464-Rs466 band; for promoters 1 single bidder grabs all at approx Rs 335 levels

Prime Commercial Bank Limited (PCBL) had auctioned 52,045 units promoter share and 4, 32, 649 units ordinary shares to the general public from Mangsir 14, 2073 till Poush 3, 2073 . The bid was opened today (Poush 4, 2073) at 1 PM at the premises of Civil  Capital Market Limited. As per an  official of Civil Capital managing the auction for Prime  Bank informed that, the preliminary  cut off price for 4, 32, 649 units ordinary shares shall be Rs 464- Rs 466 range.  Total 1,086 applicants submitted their bids for ordinary shares . Whereas 52,045 units promoter shares was bid by 1 single applicant at Rs 335 range. Since the bid was opened today, the data are preliminary as final data may vary added official. Prime Commercial Bank had recently signed an agreement to acquire Biratlaxmi Bikas Bank Limited (BLDBL) and Country Development Bank Limited (CNDBL). Its Last Traded Price (LTP) stood at Rs 510 as on December 19, 2016.