Prudential Capital Management Company Limited is going to auction the promoter shares of Prabhu Bank, National Life Insurance Company, Nepal Grameen Bikash Laghubitta, and Prime Commercial Bank. The auction has opened today, i.e. 11th Ashar and will close on 18th Ashar, 2078.
1,00,000 unit promoter shares of Prabhu Bank and 2,25,000 unit promoter shares of National Life Insurance Company Limited are auctioned. Meanwhile, 35,000 units of promoter shares of Nepal Grameen Bikash Laghubitta and 1,70,000 units of promoter shares of Prime Commercial Bank are auctioned.
The minimum bid rates for the shares are Rs. 225, Rs. 500, Rs. 600, Rs. 250 respectively. The minimum bid quantity should be 10,000 units. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity. The existing promoters, general public, and institutions are all eligible for bidding.
NIC Asia Capital is the auction manager.