Last Day to Bid for Unclaimed Right Shares of Chhyangdi Hydropower (CHL)
Chhyangdi Hydropower Limited (CHL) is closing the auction of an unclaimed portion of its right shares today. The auction opened on 1st Chaitra and will conclude today, i.e. on 9th Chaitra, 2078 at the end of banking hours.
59,827 units of ordinary shares (unsold right shares) are being 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 are being 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. 458.
