Ridi Power Company Limited (RIDI) has initiated the auction of the unclaimed portion of its right shares starting from the 29th of Chaitra, 2080, with the auction set to conclude on the 9th of Baisakh, 2081. The company aims to sell 11,35,657 units of ordinary right shares, representing the unclaimed segment from its recent rights offering.
During the rights offering period, which ran from the 18th of Falgun to the 8th of Chaitra, 2080, RIDI issued shares at a ratio of 1:0.50 to its existing shareholders. However, out of the total right shares issued, only 66,08,849 units (85.34%) were allotted to eligible shareholders, indicating that 14.66% of the shares remained unclaimed.
Therefore, the company has decided to make these unsold right shares available to the general public starting from today. Individuals and institutions alike have the opportunity to participate in the auction and bid for these shares.
Muktinath Capital Limited has been appointed as the issue manager for this right share auction. The minimum bid rate for the auction is set at Rs. 100, with a minimum bid quantity of 100 units. While bidders have the option to bid for the entire issue, they must adhere to the regulatory board’s guidelines to ensure that the specified quantity of shares per entity is not exceeded.
Highlights:
- Kumari Bank Limited to Auction Promoter Shares to Existing Promoter Shareholders
- Ghalemdi Hydro Limited Initiates Auction of Unclaimed Right Shares for Public Offering
- Existing Promoter of Himalayan Bank Limited Initiates Auction of 21,86,575 Shares for Promoter Shareholders
- “Closing Today: Auction of 15,77,211 Unclaimed Right Shares by Himal Dolakha Hydropower Company”
- Vishal Group Limited Initiates Auction of 15,00,000 Promoter Shares of Nepal Reinsurance Company Limited (NRIC) with NIC Asia Capital as Auction Manager