Siddhartha Bank to auction 2.53 lakh units unclaimed right shares at Rs 100& above from Bhadra 6; LTP at Rs 448

Siddhartha Bank Limited (SBL) will be auctioning its 2.53 lakh units unclaimed right share to the general public from Bhadra 6, 2074. As per the notice published by the bank today,  the bank will be selling 1,3550.87 units promoter shares and 2,40,371.26 units ordinary shares after the right shares issued on , 2073 were not fully subscribed by its shareholders. The bank had offered right shares at the ratio of 10:3. Around 1.61% of the total right issue was unsubscribed. The auction will last till Bhadra 14, 2074. The bid will open to conclude the auction on Bhadra 15, 2074 at 7:00 AM. Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Interested bidders must bid for a minimum of 100 units of share. The number of shares applied must be a multiple of 10. Siddhartha Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids by 3:00 PM till Bhadra 14 at Siddhartha Capital located at Naxal, Kathmandu. The investors applying for the auction can deposit the bid amount in the name of Siddhartha Capital Limited in account number 00115207281 of Sidddhartha Bank Limited located at Hattisar, Kathmandu. SBL has earned net profit of Rs 1.41 arba in the fourth quarter of the last FY 2073/74. Its last traded price stood at Rs 448 as on August 13, 2017.