Bids Received in Auction of Api Power Company Ordinary Shares Opened; What is the Cut-Off Rate?
Tue, Oct 17, 2023 7:25 PM on Dividend, Bonus & Rights, Auction, Latest,
The bids received in the auction of 11,94,934 unit ordinary shares of Api Power Company Limited (API) opened today, i.e. 30th Ashwin, 2080.
The auction opened on 17th Ashwin and concluded on 24th Ashwin at the end of banking hours. 11,94,934 units of ordinary right shares were auctioned.
This is the unclaimed portion of the rights offering. The company opened a 1: 0.40 ratio right share issue to its shareholders from 31st Shrawan to 19th Bhadra 2080. The same unsold right shares were auctioned to the general public.
Muktinath Capital Limited was appointed the auction manager. Bids opened today at the head office of the company located at Narayanchaur, Naxal, Kathmandu, starting at 10 a.m. The existing promoters, the general public, and institutions were all eligible to bid for the auction.
According to the auction manager, the tentative cut-off rate stood at Rs. 151.10. Once all of the checks get reconciled and cleared, the cut-off price may vary.
The last traded price of the scrip stands at Rs 172.20 per share.
