Kathmandu. More than 7.4 million units of shares of Sikles Hydropower Limited are set to expire.
Issuing a notice today, the company informed that the lock-in period of a total of 7,384,500 units will end on September 15. Of these, 6.5 million units are of founders, 850,000 units of locals and 34,500 units of employees.
The company had opened the IPO sale for the general public from September 29, 2019 to September 15, 2019. The IPO was allotted on October 12 of the same year. According to the rules, the shares of the founders, locals and employees of any company should be kept in the company for three years from the date of ipo allotment.
However, the company has clarified that it will not be allowed to buy and sell shares in the hands of the company’s board of directors and employees at the top management level.
