NIC Asia put two companies share for auction

Kathmandu, March 14

NIC Asia Bank Limited has put its founder shares of two companies up for auction from Sunday.

The bank has auctioned a total of 75,000 founder shares of  National Life Insurance and Citizens Investment Fund. Where, there are 25,000 shares of National Life Insurance and 50,000 shares of Citizens Investment Fund.

NIC Asia Capital, the securities sales manager said, “According to the prevailing law, eligible investors can submit bids for the shares put up for auction.” Investors will be able to apply for a minimum of 10 units and maximum of number which is divisible by 10. The minimum price of shares of Citizens Investment Fund has been set at Rs 1,504 per share and that of National Life Insurance at Rs 404 per share. This means that investors will have to submit an application for a minimum price or more.

Investors can apply at NIC Asia Capital’s office at Babar Mahal in Kathmandu or NIC Asia Bank’s corporate office and branches at Trade Tower in Kathmandu, Thapathali. Also at Biratnagar, Birgunj, Pokhara, Butwal, Dhangadhi and Birendrachowk, Surkhet. The last date for submission of bids is Chaitra 6.