Reminder: Last Day to Bid for Promoter Shares of These 3 Companies
Today is the last day to bid for NIC Asia Bank's auction of promoter shares of other companies.
NIC Asia Bank Limited has been reauctioning the promoter shares of three companies from Magh 08. It will conclude today, i.e. 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 were reauctioned.
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.
