Excel Development Bank Limited (EDBL) has extended the deadline for the auction of its ordinary shares. This is the unclaimed portion of the rights offering. The auction opened on 29th Mangsir and was supposed to close today, i.e. on 7th Poush, 2078. However, since the government had declared a public holiday in Kathmandu on Sunday, the auction manager has added an extra day for bidders, and the issue will conclude tomorrow, i.e. 8th Poush.
27,257.2004 shares will be auctioned. Individuals and institutions are all eligible to bid for the auction.
Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity is 100 units, there is no upper limit for the shares. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Rastra Bank’s rule to not exceed the specified quantity of shares per entity.
NIBL Ace Capital has been appointed the auction manager.