RBBL says it will work on full swing for allotment of auctioned shares to ensure dividend of NIB to new buyers

ShareSansar, September 12:

Rastriya Banijya Bank Ltd (RBBL) has planned to complete the allotment of its promoter shares at Nepal Investment Bank Ltd (NIB) which is it divesting through the competitive bidding auction.

As the NIB has announced that it will offer 40 percent dividend--25 percent cash and 15 percent bonus share--to its shareholders from the net profit it earned in the last fiscal year 2070/71, the RBBL official said that they will work on a war-footing level to complete the allotment before the NIB book closure date starts.  

“Since the NIB is yet to announce the book closure date, we will work in a full swing so that new buyers will be entitled to get the dividends announced by the NIB,” RBBL treasury department chief Bhupendra Pandey told ShareSansar.

The bidding for the auction which has opened from Bhadra 16 will close on Bhadra 30.

Though he denied divulging into the details of the response on bidding so far, he said that they expect more investors will rush to bid the shares in the last days.