Lumbini Bikas Bank to auction 6.01 lakh unsold right shares ; auction to commence from 2nd Baisakh

Lumbini Bikas Bank has published a notice regarding the auction of unclaimed right shares that includes 2,21989.03 unit ordinary shares and 3,75,336.44 unit promoter shares.The auction will commence from 2nd Baisakh and end on 9th Baisakh, 2075. 

The company had issued 20,08,878.47 unit right shares at a ratio 10:1 to the eligible shareholders. Out of the total quantity, company has allotted 14,07,553 units shares to 18,792 valid applicants. This accounts for nearly 70% of the issued shares. The remaining 30% will now be auctioned among general public.

The interested bidders can get the forms from Vibhor Capital, or stated branches of Lumbini Bikas Bank and bid for minimum of 100 units at a price Rs 100 or above. Payment procedure as stated in the application forms has to be followed. 

Vibhor Capital will be managing the auction. 

Lumbini Bikas Bank was last traded for Rs 153 in the stock exchange.