City Hotel Limited (CITY) is gearing up to auction 21,50,418 units of unsold shares linked to promoters, employees, and ordinary lock-in from its former 1:0.80 rights offering. The auction will commence on 23rd Kartik and run until 30th Kartik, 2082.
Out of the total shares, 1,12,41,582 have been allocated to valid applicants. Consequently, 19,50,418 (14.78%) shares remain unclaimed by eligible investors.
From the total rights shares distributed, only 1,12,41,582 (85.22%) units were assigned to qualified shareholders. 14.78% of shares were not claimed by eligible investors. Thus, the leftover 19,80,999 units of rights shares held by promoter shareholders under lock-in, in addition to 6,000 units under employee lock-in (both of which are locked until Jestha 04, 2083), along with 1,54,419 units owned by public shareholder groups, will be auctioned to the general populace starting on 23rd Kartik.
This represents the unclaimed segment of the rights offering. The company launched a 1:0.80 ratio rights share issue for its shareholders from 23rd Bhadra to 26th Ashwin, 2082.
All interested parties, including individuals, firms, and institutions, are welcome to join the auction.
Prabhu Capital Limited has been designated as the issue manager for this rights share. The minimum bidding amount for the auction is established at Rs. 100. For ordinary rights shares, the least bid quantity is 100 units. While bidders may bid for the entire offering, they must comply with the regulatory board’s regulations which limit the allowable share quantity per entity.
