City Express announces auction for its unsold right shares; Paid-up capital to reach Rs 40 crore

City Express Finance Company Limited (CEFL) will be selling its 7,36,084 unit unsold right shares via auction from Poush 29, 2075 i.e. today. The interested applicants can place their bids for 2,57,631 unit promoter shares and 4,78,453 unit ordinary shares till Magh 06, 2075.

Kathmandu Capital Market Limited has been appointed as the issue manager for the auction.

The minimum bid price for the auction has been set at Rs 100 i.e. the bids should be placed for the shares above Rs 100. The finance company has urged the interested bidders to place bids for minimum 1000 units promoter shares and 100 unit ordinary shares.

The application for the auction can be collected and submitted in Kathmandu Capital Market Limited, City Express Finance Limited and designated branches of Bank of Kathmandu Limited.

The interested bidders should place the entire bid amount in A/C no. 010000063202524 of Bank of Kathmandu in the name of Kathmandu Capital Market Limited.

The paid-up capital of the company will reach Rs 40 crore after the adjustment of 167% right shares.