Kathmandu. The lock-up period of more than 6.25 million units of shares of Makar Jitumaya Suri Hydropower is about to expire.
The company has issued a notice stating that the auction period for a total of 6,030,628 units of shares will end on April 12. Out of the total offered share, the company has 53,20,000 units of promoter shares, 32,028 units of employees and 6,78,600 units of local units.
As per the provision, the promoters, employees and locals of any company have to keep their shares locked in for 3 years from the date of IPO allotment.
However, in the case of the promoter shareholders who are members of the board of directors and in the case of employees who are in a higher position, there is a provision that shares cannot be bought or exchanged for a period of 1 year while in the company or after being removed from the post.
