Lately, there has been a significant amount of promoter shares being sold, particularly in notable banks such as Siddhartha, Nabil, and Prabhu. It begs the question: are these promoters divesting their shares due to concerns with the banking industry or have they identified other industries that are more attractive?
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Sunrise Bank Limited (SRBL) has announced that the existing promoters of the bank will be auctioning 122,045 units of shares to the general public and institutions starting from today, which is the 18th of Jestha, 2080. Initially, the founder shareholders had issued a notice on the 7th of Baisakh, informing about the auction of these 122,045 units of promoter shares. However, since no applications were received during that period, the shareholders have decided to re-publish the notice and open the auction to the general public once again.
Interested individuals, companies, and institutions are eligible to participate in the auction, and they have a period of 7 days from the date of this notice’s publication, which is the 18th of Jestha, to submit their bids. The minimum bid rate set for the auction is Rs. 125. Shareholders who wish to participate must submit their bids at the central office of the bank, located in Gairidhara, Kathmandu.
Kumari Bank Limited (KBL) has announced that its existing promoters will be selling 14,83,378 units of their shares through an auction open to the general public. The auction period will be from 12th Jestha to 19th Jestha, 2080. This presents an opportunity for individual investors, companies, and institutions to participate in the auction and potentially acquire shares of KBL.
To participate in the auction, interested bidders need to place their bids with a minimum bid rate of Rs. 110. It’s important to note that the minimum bid quantity for the promoters’ shares is set at 1000 units. While bidders have the option to bid for the entire issue, they must comply with the regulations of the Nepal Rastra Bank, which specify the maximum quantity of shares that can be allocated to a single entity.
The auction process will be managed by Sunrise Capital Limited, a renowned institution in the field. At the time of writing, the Last Traded Price (LTP) of KBL stands at Rs. 169.20. This information provides potential investors with a reference point to consider while placing their bids.
Participating in this auction allows interested investors to potentially become shareholders of Kumari Bank Limited and be part of its future growth and profitability. It is advisable for prospective bidders to carefully assess their investment strategy and make informed decisions based on their own financial goals and risk appetite.