Tourism Dev Bank re-auctioning 82,523.80 units unclaimed promoter shares from today at Rs 100 & above

Tourism Development Bank Limited (TDBL) is re-auctioning its unclaimed promoter right shares from today (Ashad 29, 2074). The development bank is selling 82,523.80 units promoter shares after the right shares issued on Chaitra 13, 2074 and 4,38,200.80 units auctioned promoter shares were not fully subscribed. TDBL had offered 9,197,712 units right shares in the ratio 1:1. The minimum bid price for the shares is set for Rs 100, which means the bid amount per share should be greater than Rs 100. The auction will last till Shrawan 5, 2074 and the bids will be opened to conclude the auction on Shrawan 6, 2074 at 11:00 AM. Bidders must apply for a minimum of 100 units of shares. Existing promoters of the bank and general public can bid for the auctioned promoter shares. NIBL Capital Markets Limited is the issue manager for the auction. Applicants can collect the bid forms from NIBL Capital Markets Limited, Lazimpat, Kathmandu. The bank has urged interested bidders to deposit the bid amount within banking hours on Ashad 15, 2074 in the account number 0124524615425017 maintained in the name NIBL Capital-Tourism Right Issue at Kumari Bank Limited. TDBL has earned net profit of Rs 20.09 crore in the third quarter of the FY 2073/74. After the adjustment of right shares, the paid up capital of TDBL will reach Rs 2.02 arba. It has signed an agreement for merger with Mega Bank Nepal Limited (MEGA) due to which their trading is in halt in NEPSE. Mega Bank is also issuing 65% right share to its shareholders. The share swap ratio for merger has been set for 100:95 (95 shares of Mega Bank for 100 shares of Tourism Dev Bank). After the merger, the paid up capital of the merged entity will reach around Rs 9.48 arba.