NIC Asia Bank Initiates Auction for Promoter Shares of Suryodaya Womi Laghubitta and Citizen Investment Trust From Today
NIC Asia Bank Limited is selling the promoter shares of Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) and Citizen Investment Trust (CIT) in the auction from today i.e. 4th Chaitra to 13th Chaitra, 2080.
75,305 unit promoter shares of SWMF and 50,000 unit promoter shares of CIT are being auctioned. Qualified interested promoter shareholders/general public/company and institutions are eligible to bid in the auction of SWMF whereas qualified institutional investors are only eligible to bid in the auction of CIT.
Rs. 245 is the minimum bid rate for SWMF's auction whereas Rs. 753 is the minimum bid rate for CIT's auction. The minimum bid quantity for promoters’ shares of SWMF is 5,000 units while that of CIT is 10,000 units. 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. As of writing, SWMF and CIT have an LTP of Rs. 701.00 and Rs. 2,152.00 respectively.
