Last day for the auction of 1,08,141 unit right shares of Best Finance Limited
Sun, Apr 1, 2018 6:02 AM on Latest, Featured, Stock Market,
Best Finance Limited (BFC) is closing its re-auction for the unclaimed 1,08,141 units right shares to the general public from today (Chaitra 9, 2074).
The finance company is selling 1,201 units ordinary and 1,06,940 unit promoter shares after the right shares issued from Bhadra 27 to Kartik 14, 2074 were not fully subscribed by its shareholders. It had offered right shares in the ratio of 1:1.25 (125%). Around 6.54% shares of the total right issue will be auctioned, i.e. remaining after previous auction.
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 for ordinary and for promoter shares as well.
Global IME Capital Limited is the issue manager for this auction.
The finance company has urged interested bidders to submit their bids within banking hour till Chaitra 18, 2074 at Global IME Capital Limited, Jamal, Kathmandu or also in designated branches of Global IME Bank Limited.
The investors applying for the auction can deposit the bid amount in the account number 0111010011060 maintained at Global IME Bank Limited, Kamaldi in the name of Global IME Capital Limited or can apply through Good for Payment cheque.
After the adjustment of the rights shares, the company’s total paid-up capital will reach Rs 29.75 crore from the existing Rs 13.22 crore. The bank has authorized capital of 30 crore.
BFC will be acquiring Synergy Finance Limited (SYFL) in the share swap ratio of 1:1.
It had posted net profit of Rs 3.59 crore in the second quarter of the FY 2074/75.
Its last traded price (LTP) stood at Rs 119 as of last trading day.
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