City Hotel Limited (CITY) is preparing to auction 2,150,418 units of unsold shares from promoters, employees, and the general public, stemming from its previous 1:0.80 rights offering. The auction will commence today, specifically from the 23rd of Kartik to the 30th of Kartik, 2082.
A total of 11,241,582 shares have been allocated to eligible applicants. Consequently, 1,950,418 (14.78%) shares went unclaimed by qualified investors.
From the total rights shares issued, only 11,241,582 (85.22%) units were distributed to eligible shareholders. The 14.78% that remained unclaimed by qualified investors now totals 1,980,999 units, which belong to promoter shareholders under lock-in, along with 6,000 units held by employees (both of which will remain locked until Jestha 04, 2083) and 154,419 units owned by public shareholder groups. These shares will be auctioned to the general public starting from today.
This represents the unclaimed portion of the rights offering. The company issued a 1:0.80 ratio right share offer to its shareholders from the 23rd of Bhadra to the 26th of Ashwin, 2082.
All interested individuals, corporations, and institutions are welcome to partake in the auction.
Prabhu Capital Limited has been designated as the issue manager for this rights share. The auction’s minimum bid price is set at Rs. 100. For standard rights shares, the minimum bid quantity is 100 units. While bidders may request the entirety of the offering, they must follow the regulatory authority’s guidelines, which limits the share quantity that can be requested per entity.
