NIC Asia Bank Auctioning Promoter Shares of These Six Companies

NIC Asia Bank Limited is reauctioning the promoter shares of three companies. The auction has already opened from today, i.e. Magh 08. It will conclude on 16th Magh.

2,02,560 units promoter share of (Citizen Investment Trust), 94,866 units of promoter share of (National Life Insurance Company Limited), and 1,85,694 units promoter shares of (Surya Life Insurance Company Limited) are being auctioned. NIC Asia bank had previously auctioned the shares of these companies along with the shares of Asian Life Insurance. While the shares of Asian Life insurance are fully subscribed, the remaining shares of these three companies are reauctioned from today.

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.

The minimum bid rates for the promoter shares of CIT, NLICL, SLICL are Rs. 1,384, Rs. 482, and Rs. 365 respectively. 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.

NIC Asia Bank's Reauction Notice

Similarly, NIC Asia Bank is also auctioning a fresh lot of promoter shares of three other companies. The auction has already opened from today, i.e. Magh 08. It will conclude on 12th Falgun.

4,36,361 units promoter share of (RMDC Laghubitta Bittiya Sanstha Limited), 61,200 units of promoter share of (Mahuli Samudahik Laghubitta Bittiya Sanstha Limited), and 5,98,598 units promoter shares of (Mero Microfinance Laghubitta Bittiya Sanstha Limited) are being auctioned.

All eligible investors can bid for the auction of promoter shares of other companies.

The minimum bid rates for the promoter shares of RMDC, MSLB, MERO are Rs. 523, Rs. 812, and Rs. 463 respectively. 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.

NIC Asia Bank's First Auction Notice of Three Companies' Shares