Cutoff of auctioned ordinary shares of City Express stands at Rs 101; Cutoff of promoter shares stands at Rs 100.5

City Express Finance Company Limited (CEFL) had opened an auction for 7,36,084 unit unsold right shares. The auction floated 2,57,631 unit promoter shares and 4,78,453 unit ordinary shares.

Kathmandu Capital Market Limited is the issue manager for the auction.

Ordinary shares

According to the officials of Kathmandu Capital, a total of 76 applications were received for ordinary shares. The cutoff of the auction stands at Rs 101, where the maximum bid has been received at Rs 133. The auction has been fully subscribed.

Promoter shares

Similarly, for promoter shares, a total of 6 applications were received. The cutoff of the auction stands at Rs 100.5, where the maximum bid was received at Rs 101. The auction has been fully subscribed.

The officials also informed that they will be listing the right shares as soon as possible.

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