Kathmandu. The deadline to apply for the right shares of City Hotel Limited has been extended. The company had started issuing and selling right shares from September 23. The last date to apply for the right shares is October 26, but the last date to apply for the right shares is October 12.
The company is issuing 80 percent of its current paid-up capital i.e. 10 units of right shares.
The company will issue 1,33,92,000 units of right shares at a face value of Rs 100 per share.
The company had closed the book on August 12 for the purpose of issuing right shares. Accordingly, the shareholders who have been traded in NEPSE till August 10 can apply for the right shares. Care Ratings Nepal has assigned CareNP Double B Minus Issue Rating to the company. This indicates a moderate risk to our ability to bear financial obligations in a timely manner.
Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can bid for the shares from branches of Prabhu Bank, Birgunj, Pokhara, Butwal, Surkhet and Dhangadi. Moreover, the interested bidders can apply for the shares online from the banks and financial institutions licensed by the Securities Board of Nepal (SEBON) through the board of directors (SEBON) and online from CDS & Clearing Limited (CDS & Clearing).
Presently, the company has paid-up capital of Rs 1.67 billion. After the issuance of right shares, the paid-up capital of the company will stand at Rs 3.01 billion.
