Promoter Shares of Machhapuchchhre Bank in Auction From Today
The existing promoter of Machhapuchchhre Bank Limited (MBL) is auctioning 1,12,32,492 units of shares to the qualified interested promoter shareholders/general public/institutions from today.
Surendra Mahato, a promoter of MBL is set to sell 1,12,32,492 units of promoter shares, which represents approximately 18.95% of the total promoter shares or 51% ownership. With a total of 11.62 Crore units of shares listed on the Nepal Stock Exchange (NEPSE), these shares being auctioned constitute about 9.66% of the total shares. This auction is expected to attract the attention of investors and may have an impact on the ownership structure of MBL.
Only the qualified interested promoter shareholders/general public/institutions are eligible to bid for the auction from today i.e. 25th Poush to 2nd Magh, 2080. Rs. 115 is the minimum bid rate. The minimum bid quantity for promoters’ shares is 10,00,000 units. The shareholders should submit their bids at Machhapuchchhre Capital Limited located at Baghdurbar, JDA Complex, Kathmandu.
MBL closed at Rs. 197.80 yesterday. Meanwhile, MBLPO has an LTP of Rs. 136.00 as of May 10, 2023.
