Muktinath Bikas Bank to auction unsold right shares

Nov 18, 2019 09:19 AM Merolagani

Muktinath Bikas Bank (MNBBL) is set to auction 403,220.25 units of unsold right shares from November 24.

Muktinath is auctioning 102,516.32 units of promoter and 300,703.93 units of ordinary shares that went unsold during its issuance from August 29-October 2. The auction will close on December 1.

The interested individuals, companies and institutions can bid for the shares from its issue manager, Muktinath Capital at Trade Tower Thapathali, Kathmandu and Pokhara, Nepalgunj, Dhangadhi< Surkhet, Biratnagar, Janakpur branch of Muktinath Bikas Bank.

The bidders can bid for a minimum of 100 units and maximum of all shares under NRB limit at a minimum price of Rs 100.

Earlier, the bank issued 20 percent i.e. 6,129,520 units of right shares worth Rs 612.9 million to its existing shareholders.

Presently, the bank has paid-up capital of Rs 3.06 billion that will reach Rs 3.67 billion after capitalization of the right issue.

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