Shares on Auction: Find out which Development Bank and Microfinance Company's shares are on Auction

Fri, Sep 11, 2020 10:35 AM on Latest, Auction,

Nepal Insurance Company Limited is auctioning its 5,00,000 units promoter shares of Nepal Credit & Commerce Bank Limited.

The auction will open from 2nd Ashwin and conclude on 6th Kartik, 2077. The minimum bid rate is set ar Rs. 110 while the minimum bid quantity is 1,000 units. There is no maximum quantity limit for application. However, individual investors are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.

The existing promoters will be given priority during bid allocation. This means that the high bids from the promoters will be selected. If the shares remain, then only the high bids from the general public and financial institutions will be selected.

Similarly, National Microfinance Laghubitta Bittiya Sanstha Limited is auctioning its 1,10,000 units promoter share to the general public. Like the auction of Nepal Insurance Company, this auction will also open from 2nd Ashwin and conclude on 6th Kartik, 2077.

The minimum bid rate is set at Rs. 725 while the minimum bid quantity is 1,000 units.

NIBL Ace Capital is the auction manager for both the auctions. Both will accept bids from individual investors and financial institutions. 

Click here for Nepal Credit & Commerce Bank's Auction Notice.

Click here for National Microfinance Laghubitta Bittiya Sanstha's Auction Notice