Tinau Dev. Bank to auction unsold 21,903.32 units ordinary shares at Rs 100 & above from Jestha 16; LTP stood Rs 501

Tinau Development Bank Limited (TNBL) will be auctioning its ordinary right shares to general public from Jestha 16, 2073. The development bank will be selling 21,903.32 units ordinary right share after the rights shares issued on Falgun 28, 2072 were not fully subscribed by the investors. It had offered right shares in the ratio of 4:1. The auction starts from Jestha 16, 2073  and will last till Jestha 30, 2073. The bid will open to conclude the auction on Jestha 31 2073 Bidders must quote a minimum price of Rs 100 per unit, which means that the lowest bid amount must be more than Rs 100. Siddhartha Capital Limited is the issue manager for this auction. The bank has urged the interested bidders to submit their bids by 3:00 PM till Jestha 30 at the Siddhartha Capital Limited located at Anamnagar, Kathmandu or at Tinau Development Bank located at Butwal, Rupandehi. The investors applying for the auction can deposit the bid amount in the account name Siddhartha Capital Limited and account number 00115197722 of Siddhartha Bank Limited. The last trading price (LTP) of the shares stood at Rs 501 as on May 12, 2016.