Buddha Bhumi Nepal Hydropower Company Limited (BNHC) has opened the auction of 474,696 units of ordinary right shares that remained unsubscribed during its recent rights offering. The auction will remain open until 29th Jestha, 2083.
The company had issued 40,00,000 units of right shares to existing shareholders under a 1:1 ratio. Out of the total issue, 35,25,304 shares were allotted to valid applicants, representing 88.13% of the offering. The remaining 474,696 shares, equivalent to 11.86% of the total issue, were not claimed by eligible shareholders and will now be sold through a public auction.
Both individual and institutional investors are eligible to participate in the bidding process. The auction provides an opportunity for investors to acquire additional shares of the company through a competitive bidding mechanism.
NIC Asia Capital Limited has been appointed as the issue manager for the auction. The minimum bid price has been set at Rs. 100 per share, while investors must apply for at least 100 shares. Interested bidders may apply for up to the total number of shares available, subject to applicable regulatory limits on share ownership.
Auction Details
| Particulars | Details |
|---|---|
| Company | Buddha Bhumi Nepal Hydropower Company Limited (BNHC) |
| Share Type | Ordinary Right Shares |
| Shares for Auction | 474,696 Units |
| Auction Period | 21st Jestha to 29th Jestha, 2083 |
| Total Right Shares Issued | 40,00,000 Units |
| Subscribed Shares | 35,25,304 Units |
| Subscription Rate | 88.13% |
| Unclaimed Shares | 474,696 Units (11.86%) |
| Eligible Bidders | Individuals and Institutions |
| Minimum Bid Price | Rs. 100 per Share |
| Minimum Bid Quantity | 100 Shares |
| Issue Manager | NIC Asia Capital Limited |
The auction of these unsubscribed shares is expected to enhance public participation while allowing the company to complete its rights issuance process successfully.
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