Tuesday, July 9, 2013

NDEP calls for sealed-bids for 2,95,347 promoter shares of NB Bank and NCC Bank

NDEP Development Bank has called for sealed-bids for the promoter shares of Nepal Bangladesh Bank and Nepal Credit and Commerce Bank that were used as collateral for taking out loans from the bank.

The shares are owned by the promoters of NB Group, Purna Bahadur Shrestha, Laxmi Shrestha, Winson Shrestha, and their subsidiaries Shangrila Investment Pvt. Ltd.

NDEP, in an announcement published on July 8, has said that the decision to auction the shares was taken after the debtors failed to pay back the loan amount despite repeated requests and a 35-day notice warning them of the auctioning of the shares against which the loans were issued.

Investors will have to bid for a minimum 100 shares or more provided that the figure be divisible by 10. The last date for registering the bid has been set for July 14, 2013.

The application forms for the bids can be availed from NDEP’s head office at Lal Durbar, Kathmandu, and from Civil Capital Market Limited, located in Kathmandu Plaza, Kamaladi, Kathmandu. 

NDEP is auctioning through the sealed-bids 1,19,860 shares of NB Bank and 1,754,87 shares of NCC Bank.
src:ShareSansar

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