RBB to open bid for auction of NIBL, NABB crossholding; Demat A/c compulsory

ShareSansar, December 3:

Rastriya Banijya Bank Ltd (RBBL) has again announced the call for the sealed bidding of its crossholding promoter shares each of Nepal Investment Bank Limited (NIBL) and Nepal Aawas Finance Limited (NABB).

The bank is selling 57,96,757  units NIBL promoter share and 1,78,927 units Nepal Aawas Finance promoter share which was unsold from the previous auction called by the bank in the month of  Bhadra, 2071.

Earlier in Bhadra, RBBL has offered to sell its 6,220,066 units of shares of NIBL through open bidding at the minimum bid price of Rs 530 per share. But at that time, the company was able to sell only 11,79,408 units shares to the 750 bidders in total.

The Investors applying for this auction this time compulsorily must have demat account open in their name from the respective Depository Participants (DP) offices.

According to the notice published by the bank’s issue manager Nabil Investment Banking Ltd. today, the interested individuals or firms can apply for the minimum of 100 shares while they can bid for the maximum units divided by 10. The bidding will be opened from Mangsir 23 till Mangsir 29, 2071.

The minimum per unit share price has been set for Rs 400 for NIBL and Rs 101 for Nepal Awas, which means that the investors must quote at least Rs 400 for the NIBL per unit shares and Rs 101 for the Nepal Aawas Finance Limited.
 
According to the notice, the interested investor can get the tender form from various collection centers at RBBL’s branch offices inside and outside the Kathmandu valley as well as from the Nabil Investment’s office at Naxal, Kathmandu at free of any charges.

Investors can collect the forms from RBBL’s following branch offices Bishalbazar, Thapathali, Banseswor, Maharajgunj, Gaushala, Bhotahiti, Teku, Kalanki in Kathmandu, Pulchowk in Lalitpur and Suryabinayak branch office in Bhaktapur.
 
Similarly, they can get the forms from Banepa, Chitwan, Biratnagar, Dharan, Hetuada, Bhairhawa, Butwal, Nepalgunj, Mahendrapul in Pokhara, Birtamod, Janakpur, Bidur, Birgunj, Dhangadhi, Tulsipur, Lahan and Kanchanpur branches outside the Kathmandu valley.

The bank will allot the shares based on higher quoted price, according to the notice.

The central bank had barred the dividends from these BFIs to the RBBL after the government owned bank could not divest its crossholding within the deadline of last fiscal year end set by the central regulators. Dividend would be released only after all the cross-holdings ends.

For Complete Announcement: CLICK HERE