Tinau Development Bank to auction unsold 31,497.51 units ordinary right shares at Rs 100 & above from Asadh 27; LTP at Rs 310

Tinau Development Bank Limited (TNBL) will be auctioning its 31,497.51 units unsold right shares to the general public from Ashad 20, 2074. As per the notice published by the development bank today, it is selling 31,497.51 units ordinary share after the rights shares issued on Baisakh 7, 2073 were not fully subscribed by the investors. The bank had floated a total of 11,94,796.09 units right shares in the ratio 10:3.5 and around 2.63% right shares were left unclaimed. The auction will last till Ashad 27, 2074. The bid will open to conclude the auction on Ashad 28, 2074 at 7 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 shares. Siddhartha Capital Limited is the issue manager for this auction. The bank has urged interested bidders to submit their bids within office hours till Ashad 27 at the Siddhartha Capital located at Naxal, Kathmandu. The investors applying for the auction can deposit the bid amount in the account name Siddhartha Capital and account number 00115197722 of Siddhartha Bank. Bidders can also apply through a Good for Payment Cheque made in the name of Siddhartha Capital Limited. Its last traded price stood at Rs 310 as on June 25, 2017. Tinau Bikas Bank has earned net profit of Rs 7.80 crore in the 3rd quarter of the fiscal year 2073/74.