Bids Opened for Auctioned Shares of Corporate Development Bank (CORBL), What's the Cut-off Rate?

Corporate Development Bank Limited (CORBL) has opened the bids received in the auction of its unclaimed right shares today, i.e. 2nd Baisakh. Civil Capital Market Limited was appointed the auction manager. Bids were opened today at the premises of the auction manager, Sundhara, Kathmandu, starting at 1 pm.

The auction had opened on 16th Chaitra and concluded on 24th Chaitra, 2078 at the end of banking hours. 1,20,120 units of ordinary right shares were auctioned. This is the unclaimed portion of the 1: 1.5 rights offering for 30,00,000 shares that opened on 7th Magh and closed on Falgun 13, 2078.

The general public, companies, and institutions were all eligible to bid in the auction. Rs. 100 was the minimum bid rate, there was no upper limit for both shares.

According to the auction manager, Rs. 202.06 is the tentative cut-off rate. Bidders who bid at or above the cut-off rate will get the shares.