Last Day to Bid for Auction of Shares of Five Companies
Nepal Finance Limited (NFS) is closing the auction of its promoter and ordinary shares from today.
The company has been auctioning 2,55,078.55 units of promoter shares and 2,60,169.50 units of ordinary shares from 17th Poush. Both the auction will close today, i.e. on 24th Poush, 2077 after banking hours.
Prabhu Capital Limited is appointed the auction manager.
The existing promoters, general public, and institutions are all eligible to bid for the auction. Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity for promoters’ shares is 1000 units, the minimum bid quantity for ordinary shares is 100 units. There is no upper limit for both shares. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.
Similarly, NIC Asia Bank Limited is closing the auction of promoter shares of four companies.
NIC Asia Bank has been auctioning the promoter shares of four companies from Poush 19. All the auction will close today, i.e. on 24th Poush, 2077 at the end of banking hours.
The bank has been auctioning 2,02,560 units promoter share of Citizen Investment Trust (CIT) and 1,03,976 units promoter share of National Life Insurance Company Limited (NLICL). Similarly, it is auctioning 1,90,374 units of promoter shares of Surya Life Insurance Company (SLICL) and 1,30,290 units of promoter shares of Asian Life Insurance Company (ALICL).
Only banks, financial institutions, and insurance companies are allowed to bid for the auction of Citizen Investment Trust's shares. Meanwhile, all eligible investors can bid for the auction of promoter shares of other companies. While the minimum bid quantity is 100 units for all the auctions, there is no upper limit. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity. Meanwhile, any quantity in between should be divisible by 10.
The minimum bid rate for CIT's shares is Rs. 1,715 while that for NLICL's shares is Rs. 550. Similarly, the minimum bid rate for ALICL and SLICL's auction is Rs. 469 and Rs. 337 respectively.
NIC Asia Capital is the auction manager.
