NIC Asia Bank Initiates Auction for Promoter Shares of Suryodaya Womi Laghubitta and Citizen Investment Trust From Today
NIC Asia Bank Limited (NICA) is auctioning the promoter shares of Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) and Citizen Investment Trust (CIT), commencing on the 6th of Falgun and extending until the 14th of Falgun, 2080.
Suryodaya Womi Laghubitta is offering its promoter shares to qualified interested parties, including promoter shareholders, the general public, companies, and institutions. In parallel, Citizen Investment Trust is exclusively inviting qualified investors to participate in the auction of its promoter shares during the same period.
For SWMF, the auction involves 75,305 units of promoter shares, with a minimum bid rate of Rs. 245 and a minimum bid quantity of 5000 units. Likewise, the auction for CIT's promoter shares encompasses 50,000 units, with a minimum bid rate of Rs. 740 and a minimum bid quantity of 10,000 units. As per the notice only Banks and Financial Institutions and Insurance companies are eligible to bid for CIT auction.
Bidders have the option to bid for the entire issue; however, adherence to the Nepal Rastra Bank's regulations is mandatory. Participants must not exceed the specified quantity of shares per entity, ensuring compliance with regulatory guidelines.
NIC Asia Capital is the auction manager. As of writing, SWMF and CIT have an LTP of Rs. 698 and Rs. 2,109.90 respectively.
