59,827 Unclaimed Right Shares of Chhyangdi Hydropower (CHL) Being Auctioned From Today
Chhyangdi Hydropower Limited (CHL) is auctioning the unclaimed portion of its right shares. The auction will open today, i.e. on 1st Chaitra, and conclude on 9th Chaitra, 2078.
59,827 units of ordinary shares (unsold right shares) will be auctioned. This is the unclaimed portion of the rights offering that closed on Falgun 02, 2078. The issue had opened on 11th Magh. A total of 8,93,025 shares were issued to eligible shareholders at a par value of Rs. 100 per unit. 28,311 eligible applicants were allotted 8,33,191 shares. Thus, the remaining 59,827 shares will now be auctioned.
Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity for shares is 100 units, there is no upper limit. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.
Global IME Capital has been appointed the auction manager. As of writing, CHL has an LTP of Rs. 476.
