NIC Asia Bank Auctioning Promoter Shares of CIT, SWMF and MSLB From Today
NIC Asia Bank Limited (NICA) is auctioning the promoter shares of Citizen Investment Trust (CIT), Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF), and Mahuli Laghubitta Bittiya Sanstha Limited (MSLB) from today i.e. on 12th Shrawan to 18th Shrawan, 2080.
10,000 units of promoter shares of Citizen Investment Trust are being auctioned where only qualified investors are eligible to bid in an auction. The minimum bid quantity for promoters’ shares of CIT is 1000 units. Similarly, 85,940 unit promoter shares of SWMF and 4,920 unit promoter shares of Mahuli Laghubitta will be auctioned.
Interested general public/institutions are eligible to bid for the auction of SWMF's shares while only existing promoter shareholders are eligible to bid for the auction of MSLB's auction. The minimum bid rate for SWMF and MSLB's promoter shares is Rs. 262 and Rs. 301 respectively. However, the minimum bid quantity for SWMF and MSLB's promoter shares is 100 units and 500 units respectively.
Although bidders can bid for the entirety of the issue, they are required to abide by the Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.
NIC Asia Capital is the auction manager for all three auctions.
