Excel Development Bank put up shares in an auction; More than one lakh shares to be sold

Kathmandu, April 23

Excel Development Bank Limited is going to auction its founder shares of three companies.

The bank is going sell a total of 125,609 founder shares of RMDC Laghubitta Bittiya Sanstha, Grameen Bikas Laghubitta Bittiya Sanstha and United Insurance Company Limited through auction from Baisakh 16. The shares to be put up for auction include 5,770 shares of RMDC Laghubitta, 25,200 shares of Grameen Bikas Laghubitta and 94,639 shares of United Insurance.

The minimum per shares is Rs. 498 for RMDC Laghubitta , Rs. 400 for Grameen Bikas Laghubitta and Rs. 321 for United Insurance. Investors will have to bid at the minimum price or more when submitting bids.

Similarly, a minimum of 100 lots and a maximum of number that is divisible by 10 lots can be applied. Bids should be submitted to Prabhu Capital, Kathmandu office at Kamaladi and Excel Development Bank’s central office. The last date for submission of bids is Jestha 5.