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Monday, April 21st, 2014 - 7:45 PM
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Home Forums From The Readers A false Promise-Druk PNB

This topic contains 3 replies, has 4 voices, and was last updated by  Truly Concerned_Bhutan 1 year, 1 month ago.

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  • #48868

    demogal
    Participant

    Few years back Druk PNB floated their share at face value of Nu 100 for each share. This was done to according to the norms of financial institutions to raise the capital money for the company. The bank was very proud that its shares got over subscribed.

    They had to come out with a solution for the over subscription, and they announced that each applicant will be given 34 shares (Nu 3400 worth). They returned the balance money and i was one of the person to have received the money back.

    I invested thinking that it may be a small asset for me and my family. But now the reality is known to all- Where is the dividend? Keep aside the dividend, we didn’t even get a ownership certificate from the bank.

    I know the financial institutions are in problem, but PNB should at least have the courtesy to inform its minor share holders about WHAT and HOW the bank is working on it.

    Does anyone have any idea on this,? please enlighten me.

    #48893

    tsaja
    Participant

    Blind date was very famous in shercol once upon a time, and some people still likes to practice this kind of activities. buying shares and debentures are not like buying hot cakes, it will take quite sometime to get back your returns so, Before investing your savings you should have studied how they are going to function and how you will get your returns. this is just my free advice, no hard feelings

    #48951

    Dear Author,

    I am sure no one can make you enlightened, but I am sure people here can give you a piece of advice or a suggestion that can be of your help. Knowing the Financial Situations worldwide, I think its obvious a small country like ours could have greater impacts. I am worried if our Financial Institutions would collapse. The rupee shortage at present for example present us the best sign of Financial weakness in our country. Sorry I can’t fully answer or support your problem but I must say you are entitled to get back the amount what you have deposited before.

    #48895

    Nomad
    Participant

    Dear Demogal,

    You have bought shares of a new company and it also seems that you have not read the prospectus of DNPB prior to buying shares. This prospectus was distributed to every intended buyers along with share application forms, I know it coz I have bought some too. Any company would not be able to declare dividends for for few years because they need be established well before generating profit. Little profit if at all will be used for strengthening the company itself for some years. Share ownership certificate will be kept under the custody Royal Security Exchange of Bhutan and I am sure that you are issued with a confirmation letter by the broker from where you have purchased the shares. Furthermore, once you have bought shares you are partially owner of the company and if there is no profit made then you lose the dividend. Anyways, DPNB is a registered company and its doing well as far as I know about it. So wait or sell your share, there are buyers in the market.

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