Triveni Bikas Bank auctioning 3.57 lakh units unclaimed right shares from today at Rs 100 and above

Triveni Bikas Bank Limited (TBBL) is auctioning its unsold ordinary and promoter right shares to the general public from today (Magh 13, 2073). The bank is selling 2,29,143.45 units ordinary shares and 1,28,916.97 promoter shares after the rights shares issued on Kartik 23, 2073 were not fully subscribed by the shareholders. The bank had offered right shares in the ratio of 2:1. ACE Capital Limited is the issue manager for this auction. The auction will last till Magh 20, 2073. The bid will open to conclude the auction on Magh 21, 2073 at 3:00 PM. The auction will open at the premises of ACE Capital Limited, Laldurbar, Kathmandu. 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 bank has urged interested bidders to submit their bids by office hours till Magh 20 at ACE Capital Limited located at Laldurbar, Kathmandu or at head office of Triveni Bikas Bank Limited, Thapathali, Kathmandu. The investors applying for the auction can deposit the bid amount in the account number 0011043901CA2 in the name of ACE Capital Limited at ACE Development Bank Limited, Kathmandu or in the account number 025-966424401 in the name of Triveni Bikas Bank Limited. Triveni Bikas Bank Limited has earned Rs 24.93 million during the end of first quarter of the fiscal year 2073/74. Its last trading price stood at Rs 346 as on October 27, 2016. Triveni Bikas Bank Limited is in process of merger with Janata Bank Nepal Limited. The swap ratio for the merger is fixed at 1:1.