Last Day to Bid for the Auction of Api Power Company's shares
Today is the last day to bid for the auction of Api Power Company.
Api Power Company Limited (API) has been auctioning its 13,46,218 units ordinary shares from 6th Poush. The auction will close today, i.e. on 13th Poush, 2077 after banking hours.
The company allotted its 1:0.4761 ratio right shares to its shareholders on 21st Mangsir, 2077. The hydropower company closed the issue of right shares on Mangsir 04. The issue of right shares totaling 56,70,000 units was open from 14th Kartik. Only 43,23,782 shares were allotted.
Thus, the remaining 13,46,218 units were auctioned. The general public and institutions are all eligible to bid for the auction.
While the minimum bid rate is Rs. 100, the minimum bid quantity should be 100 units. 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. Any quantity in between must be a multiple of 10.
