Sindhu Bikas Bank to re-auction 48,989.25 unit promoter unclaimed right shares at Rs 100 & above from Poush 14

Sindhu Bikas Bank Limited (SINDU) will be auctioning its promoter unclaimed right shares to the general public from Poush 14, 2073. The development bank will be selling 48,989.25 units promoter right share after the rights shares issued on Shrawan 23, 2073 were not fully subscribed by the investors. The development bank had offered right shares at the ratio of 1:1. Earlier, the development bank had auctioned 81,282.75 units ordinary share and 1,92,485.25 units promoter right share from Mangsir 9 to Mangsir 17,  2073. Only, 1,43,496 promoter share and all ordinary shares were sold in auction then. The cut off price was Rs 260 and Rs 100 for ordinary and promoter shares respectively. The development bank is re-auctioning the unsold promoter shares which will last till Poush 21, 2073. The bid will open to conclude the auction on Poush 22, 2073 at 1:00 PM. In case of any holiday on that day, the bid will open to conclude next working day at 4:00 PM. 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. NIBL Capital Markets Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within office hour till Poush 21 at NIBL Capital Markets Ltd located at Lazimpat, Kathmandu. The investors applying for the auction can deposit the bid amount in the name of NIBL Capital Markets Limited in account number K-614493-CL at Kumari Bank Limited, Putalisadak Branch, Kathmandu. Its last traded price stood at Rs 347 as on December 5, 2016.