Bids Received in Auction of API Ordinary Shares Opened; What is the Cut-Off Rates?

The bids received in the auction of 4,49,328 unit ordinary shares of Api Power Company Limited (API) has been opened today, i.e. 1st Ashad, 2079.

The auction had opened on 18th Jestha and concluded on 26th Jestha, 2079 at the end of banking hours. 4,49,328 unit ordinary shares were auctioned.

Muktinath Capital Limited was appointed the auction manager. Bids had opened today at the head office of the company located at Trade Tower, Thapathali, Kathmandu, starting at 9: 30 am. The existing promoters, general public, and institutions were all eligible to bid for the auction.

Muktinath Capital Limited is selling its held shares via auction.

According to the auction manager, a total of 1373 applicants placed bids for ordinary shares. The tentative cut-off rate is Rs. 240. Once all of the checks get reconciled and cleared, the cut-off price may vary. It is trading at Rs 254 - Rs 264 range in NEPSE.