Shikhar Insurance (SICL) Is Closing Auction of 77,720.88 Unclaimed Right Shares Tomorrow
Shikhar Insurance Company Limited (SICL) has extended the deadline for the auction of its ordinary right shares. The auction opened on 19th Baisakh and was supposed to close today, i.e. 26th Baisakh, 2079. Since, the government had declared a public holiday on Tuesday i.e 20th Baisakh, the auction manager has added an extra day for bidders, and the issue will conclude tomorrow i.e 27th Baisakh, till 2 PM as per the notice.
77,720.88 units ordinary right shares have been auctioned. Individuals, institutions, and companies are all eligible to bid for the auction.
Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity is 100 units, there is no upper limit for the shares. 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.
NIBL Ace Capital has been appointed the auction manager. Bids will be opened at the premises of the auction manager, Lazimpat, Kathmandu, starting at 2 pm.
As of writing, the company has an LTP of Rs.1,060.
