Preliminary cut-off price for auctioned shares of Lumbini Bikas Bank at Rs 158
Sun, Apr 29, 2018 7:10 AM on Auction, Latest, Stock Market,
The auction for the unsold 6.01 lakh unit right shares of Lumbini Bikas Bank Limited (LBBL) has concluded. The development bank had issued 3,79,336.44 unit ordinary shares and 2,21,989.03 unit promoter shares in the auction from Baisakh 02 to 09 of 2075.
A total of 2 applications were received for promoter share and 619 for ordinary shares. Of the promoter share both were allotted, whereas in case of ordinary shares application bidding till Rs. 158 will be allotted partially and the applicants above that will be allotted fully. There were 12 applicants bidding at Rs. 158. The maximum bid price was Rs. 175.
Vibor Capital has been appointed as the issue manager for the right share auction.
Its current paid up capital stands at Rs 2.01 arba. After adjustment of 10% right shares, it will reach to Rs 2.21 arba. To meet the capital requirement of Rs 2.50 arba, it should further hike its capital by Rs 29 crore (around 13%).
