Preliminary Cut Off price for auctioned 24,948 units ordinary shares of Karnali Dev. Bank stood Rs 184

Karnali Development Bank Limited (KRBL) had auctioned 24,948 units ordinary shares and 54,290 units promoter share to the general public from Mangsir 16, 2073 to Mangsir 23, 2073. The bid was opened today (Mangsir 26, 2073) at 2 PM. An official of Prabhu Capital Limited managing the auction of Karnali Development Bank informed that, the preliminary data of the cut off price for 24,948 unit ordinary shares stood at Rs 184. The highest bid amount for the auction shares received was Rs 315. Only 61 applicants had submitted their bids for 24,948 unit ordinary shares and 41 of them got shares. Similarly, for 54,290 units promoter shares, the bank set the cut off price at Rs. 110.  Total 6 applicants submitted their bids for 54,290 units of promoter shares. "Since the bid was opened today, the data are preliminary as final data may vary." added the official. Its last traded price stood at Rs 285 as of today (December 11, 2016). Karnali Development Bank has net loss of Rs 51.47 lakh in the first quarter of the current fiscal year 2073/74 as per unaudited report.