Prudential Capital Management Selling Promoter Shares of KBL, NLIC and PCBL Via Auction From Today
Prudential Capital Management Company Limited is selling the promoter shares of these three financial institutions —Kumari Bank Limited (KBL), Prime Commercial Bank Limited (PCBL), and Nepal Life Insurance Company Limited (NLIC) via auction. The auction, spanning from the 1st to the 6th of Poush, 2080, offers qualified interested parties, including promoter shareholders, the general public, and institutions.
The auction includes 5,49,626 units of promoter shares from Kumari Bank Limited, with a minimum bid rate set at Rs. 110 per unit. Interested bidders are required to adhere to a minimum bid quantity of 50,000 units. Prudential Capital Management is also selling 49,717 units of promoter shares from Prime Commercial Bank Limited for auction, with a minimum bid rate of Rs. 120 per unit. The minimum bid quantity for PCBL promoter shares is set at 10,000 units.
In the case of Nepal Life Insurance Company Limited, the auction comprises 5,23,112 units of promoter shares, each available at a minimum bid rate of Rs. 400. Bidders are required to comply with a minimum bid quantity of 50,000 units.
Bidders are reminded to adhere to the regulations stipulated by both Nepal Rastra Bank and Nepal Insurance Authority, ensuring that the specified quantity of shares per entity is not exceeded. Qualified interested promoter shareholders/general public/institutions, the general public, and institutions are eligible to bid for the auction within the 6th Poush.
NIC Asia Capital Limited is appointed as the auction manager for all three auctions.
