Promoter share auction of Bank of Kathmandu goes under-subscribed; Cutoff at Rs 160.25 with highest bid at Rs 202

Bank of Kathmandu (BOKL) was auctioning 3.70 lakh unit promoter shares from Magh 15 to Magh 22 of 2076. The auctioned shares belonged to Shakti Kumar Golyan. Since none of the existing promoters applied to buy the shares, it is now being offered to the general public.

NMB Capital is the issue manager of the auction.

According to the issue manager, the auction went undersubscribed. The minimum bid price was fixed at Rs 160 and the lowest bid/cutoff stood at Rs 160.25. A total of 8 applications were received but 2 got disqualified. The remaining 6 applicants applied for and were allotted 64,200 units. The maximum bid was received at Rs 202.

The bank will re-auction the remaining shares soon. Similarly, the disqualified applicants will receive their funds back from Falgun 01, 2076 (Today).

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