Auction closing day of Machhapuchchhre Bank 1.12 Crore Units Promoter Shares

The existing promoter shareholder of Machhapuchchhre Bank Limited (MBL) is closing the auction of 1,12,32,492 units of promoter shares from today i.e. 2nd Magh, 2080.

Surendra Mahato, a promoter of MBL is set to sell 1,12,32,492 units of promoter shares, which represents approximately 18.95% of the total promoter shares or 51% ownership. 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.

Rs. 115 is the minimum bid rate. The general public and institutions can bid for the auction within 2nd Magh. The shareholders should submit bids at Machhapuchchhre Capital Limited located at JDA Office Complex, Kathmandu.

As of writing, MBL has an LTP of Rs. 203.00. Meanwhile, MBLPO has an LTP of Rs. 136.00 as of May 10, 2023.