CIT Auctioning More than 3.5 Lakh Shares from Tomorrow
Kathmandu, March 4
The Citizens Investment Trust (CIT) will to put the undistributed shares in the auction from tomorrow.
The fund had expelled the rightful owners from January 12 to January 4. A total of 354,150.05 unapplied shares will be sold by the fund through auction.
According to the RBB Merchant Banking Limited,interested individuals, companies and associations can apply for the shares to be put up for auction.
The minimum price of the shares put up for auction is Rs 100 per share. Investors will have to bid for the minimum price or more. Investors will have to apply for a minimum of 10 lots and there will be no maximum limit.
Applications are to be submitted from RBB Merchant Banking Limited, located in Teku, Kathmandu and Rastriya Banijya Bank branches in Birgunj, Janakpur, Narayangarh, Baglung, Butwal, Rupandehi, Nepalgunj, Virendranagar, Dhangadhi, Birtamod, Hetauda, Tulsipur and Mahendranagar. RBB Merchant has stated that the application can be submitted till March 20.
The stock traded at Rs 4,329 per share in the secondary market on Wednesday.