Western Dev. Bank to auction unsubscribed 2.25 lakh units shares from today at Rs 100 & above; LTP at Rs 272

Western Development Bank Limited (WDBL) is auctioning its ordinary and promoter share to the general public from Chaitra 13, 2073. The bank will be selling 1,63,501 units promoter shares and 62,134 units ordinary shares after the right shares issued on Mangsir 22, 2073 were not fully subscribed by its shareholders. The bank had offered right shares at the ratio of 1:1. The auction will last till Chaitra 21, 2073. The bid will open to conclude the auction on Chaitra 24, 2073 at 12:00 PM. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units of share. The number of shares applied must be a multiple of 10. Prabhu Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids by 3:00 PM till Chaitra 21 at Prabhu Capital located at Kamaladi, Kathmandu. The investors applying for the auction can deposit the bid amount in the name of Global IME Capital Limited in account number 13511600631816000006 of Prabhu Bank Limited located at Kamaladi, Kathmandu. Its last traded price stood at Rs 296 as on March 23, 2017.