Kathmandu. Kathmandu: City Hotel Limited is going to open the issue and sale of right shares from September 15. The company is issuing 80 percent of the existing paid-up capital i.e. 10 units of the existing 10 units of shares in the ratio of 8 units.
Accordingly, the company will issue 13.39 million units of right shares worth Rs 1.33 billion with face value of Rs 100 per share.
The company had closed the book for the purpose of issuing the right shares on August 15. According to this, the shareholders who have been traded in NEPSE till August 15 can apply for the right share. Applications can be made for the right shares of the company till October 30.
Care Rating Nepal has given careNP double B minus issuer rating to the company. This indicates that there is moderate risk in the ability to bear financial obligations on time.
Prabhu Capital Limited is the issue manager of the company. Investors can apply from Prabhu Bank’s Ilam, Jawalakhel, Birgunj, Pokhara, Butwal, Surkhet and Dhangadhi branch offices. Similarly, banks and financial institutions participating in the C-ASBA service licensed by the Securities Board of Nepal can also apply online using the C-ASBA system and the software ‘Mero Share’ developed by CDS and Clearing Limited online.
At present, the paid-up capital of the company stands at Rs 1.67 billion. After the issue and allotment, the paid-up capital of the company will reach Rs 3.01 billion.
