Reminder: Last Day to Bid for Unclaimed Right Shares of API Power Company

API Power Company Limited is closing the auction of its unclaimed right shares today. The auction opened on Shrawan 13 and will close today, i.e. on Shrawan 20, 2078, at the end of banking hours. 

2,15,599 units shares are being auctioned. This is the unclaimed portion of the rights issue that concluded on Ashar 13.

Rs. 100 is the minimum bid rate. 100 is the minimum bid quantity. Bidders can bid for the entirety of shares. However, they are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.

If the shares are auctioned away at an average price equal to the company's market price, each share will bring an extra Rs. 413 as non-operating income. If all the shares are auctioned away, this auction will add a total of Rs. 8,90,42,387 as non-operating income. However, note that this is only an approximation, and the LTP is not an accurate representation of the auction cut-off price. Nonetheless, it has been statistically found that most auction cut-off rates are 10% below the company's market price.

Muktinath Capital has been appointed the auction manager.

Auction notice