Last day to bid for 7.04 lakh units unclaimed right shares of Tourism Development Bank; LTP at Rs 427

Tourism Development Bank Limited (TDBL) is closing its unclaimed auction of ordinary and promoter right shares today (Ashad 15, 2074). The development bank has been selling 4,38,200.80 units promoter shares and 2,66,537.20 units ordinary shares after the right shares issued on Chaitra 13, 2074 were not fully subscribed by its shareholders. TDBL had offered 9,197,712 right shares in the ratio 1:1. Around 4.76% right shares were unclaimed by its shareholders. The minimum bid price for the shares is set for Rs 100, which means the bid amount per share should be greater than Rs 100. The auction was open from Ashad 7, 2074 and the bids will be opened to conclude the auction on Ashad 17, 2074 at 11:00 AM. Bidders must apply for a minimum of 100 units of shares. Only existing promoters of the bank can bid for the auctioned promoter shares. NIBL Capital Markets Limited is the issue manager for the auction. Applicants can collect the bid forms from NIBL Capital Markets Limited, Lazimpat, Kathmandu. The bank has urged interested bidders to deposit the bid amount within banking hours on Ashad 15, 2074 in the account number 0124524615425017 maintained in the name NIBL Capital-Tourism Right Issue at Kumari Bank Limited. TDBL has earned net profit of Rs 20.09 crore in the third quarter of the FY 2073/74. After the adjustment of right and proposed 18.60% bonus shares, the paid up capital of TDBL will reach Rs 2.18 arba. TDBL is yet to hold its FY 2072/73 AGM. It has signed an agreement for merger with Mega Bank Nepal Limited (MEGA) due to which their trading is in halt in NEPSE. Mega Bank is also issuing 65% right share to its shareholders. The share swap ratio for merger has been set for 100:95 (95 shares of Mega Bank for 100 shares of Tourism Dev Bank). After the merger, the paid up capital of the merged entity will reach around Rs 9.48 arba. Its LTP stood at Rs 427 (to be adjusted to Rs 263 for 100% right share) as of last trading day.