Prudential Ins. to auction 4,367 units ordinary shares at Rs 100 & above from today; LTP stood Rs 499

Thu, Oct 8, 2015 11:14 AM on Latest, Featured, Stock Market,
Prudential Insurance Company Limited (PICL) is auctioning its ordinary right shares to general public from today. According to a notice published by the insurance today, it will be selling 4,367 units of ordinary right share after the rights shares issued on Shrawan 6 were not fully subscribed by the investors. It had offered 5:1 ratio right shares. The auction starts from today (Ashwin 21) and will last till Ashwin 27. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. The insurance company has urged the interested bidders to submit their bids by 3:00 PM till Ashwin 27 at the Global IME Capital Limited located at Ratriya Nach Ghar, Jamal, Kathmandu. Global IME Capital limited is the issue manager for this auction. The investors applying for the auction can deposit the bid amount in the account number 0010000396CC of the Citizens Bank International Limited. Prudential Insurance had earned net profit of Rs 8.69 crore in its fourth quarter of the last fiscal year 2071/72. The last trading price of PICL stood at Rs 499 on September 9, 2015.