1.2 Crore Units Promoter Shares of Machhapuchchhre Bank in Auction from Today
Surendra Mahato is auctioning 1,12,32,492 units of promoter shares of Machhapuchchhre Bank Limited (MBL). The auction is open from today i.e. on 5th Magh to 15th Magh, 2080.
Earlier, the promoter initially attempted to sell 1,12,32,492 units of promoter shares to existing promoter shareholders at a minimum bid rate of Rs. 100. However, as no bids were received during the auction period from 25th Ashwin, 2080, the unsold shares were subsequently made available to the general public, interested promoter shareholders, and institutions from 25th Poush to 2nd Magh at a revised minimum bid rate of Rs. 115.
Again, the same 1,12,32,492 units of previously unsold promoter shares are in the auction from today to qualified interested promoter shareholders including the general public and institutions. These promoter shares constitute approximately 18.95% of the total promoter shares, representing a 51% ownership stake in MBL. With a total of 11.62 Crore units of shares listed on the Nepal Stock Exchange (NEPSE), these shares being auctioned constitute about 9.66% of the total shares. This auction is expected to attract the attention of investors and may have an impact on the ownership structure of MBL.
Qualified interested promoters shareholders including the general public and institutions are eligible to bid in an auction. Rs. 113 is the minimum bid rate. The minimum bid quantity for promoters’ shares is 1,00,000 units. The shareholders should submit their bids at Machhapuchchhre Capital Limited located at Baghdurbar, JDA Complex, Kathmandu.
MBL closed at Rs. 204.00 yesterday. Meanwhile, MBLPO has an LTP of Rs. 136.00 as of May 10, 2023.
