Api Power Company (API) Auctioning 4,49,328 Unclaimed Right Shares from Jestha 18
Wed, May 25, 2022 11:00 AM on Latest, Dividend, Bonus & Rights, Auction,
Api Power Company Limited (API) is auctioning its ordinary shares. The auction will open on 18th Jestha and conclude on 26th Jestha, 2079.
4,49,328 units ordinary right shares will be auctioned. This is the unclaimed portion of the rights offering. The company opened its rights offering for 1: 0.393632 (1,08,60,000 units) from 25th Chaitra, 2078 to 15th Baisakh, 2079. The same unsold right shares will now be auctioned to the general public. Individuals and institutions are all eligible to bid for the auction.
Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity is 100 units, there is no upper limit for the shares. 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.
Muktinath Capital has been appointed the auction manager. As of writing, API has an LTP of Rs. 298.
