Shine Resunga Dev Bank to open the bid today for the auction of 2, 58,626 shares

ShareSansar, August 24:

Shine Resunga Development Bank Ltd is opening the bids for the auction of it’s a total of 2, 58,626 units of its promoter and ordinary shares today.

The development bank had invited the bids for auction of 1, 77,792 units of promoter shares and 80,834 units of ordinary shares after the rights shares issued on May were not subscribed by the investors.

Shine had asked for sealed quotations fixing a minimum price of Rs 100 for per unit shares from interested existing promoter shareholders who want to buy promote shares and any individual or institutional investors who want to buy ordinary shares from August 12 to August 21.

According to the notice of the Growmore Merchant Banker Ltd, the issue manager, the bidding will be opened at CW Café in Durbarmarg Kathmandu at 3 PM amid the presence of bidders or his/her representatives.

The bank will allot the shares based on higher quoted price, according to the notice.  

According to the fourth quarterly report of the bank published on July 28, it has posted 87 percent profit rise in the last fiscal year 2070/71. The bank has earned a net profit of Rs 16.19 crore in last year.

Fourth quarterly report of the bank published on July 28 stated that it has earned a net profit of Rs 16.19 crore in last year, which is 87 percent higher in comparison to the previous fiscal year.