Civil rights shares oversubscribed

KATHMANDU: Civil Bank Ltd (CBL) received overwhelming response for the auction of its unsold 2.99 million rights shares from May 16 to 23, in which applications for 3.22 million shares were received, as per a media release.

The minimum bidding price had been set at Rs 100 per unit, which meant that the lowest bid amount had to be Rs 100 and the bidders had to bid for a minimum of 100 units of shares.

The bid amount ranged from Rs 100 to Rs 150. Along with this, the bank’s capital has reached Rs 7.26 billion. Laxmi Capital Market Ltd was issue manager for the auction. — HNS