Samriddhi Finance (SFCL) Auctioning Unclaimed Right Shares From Chaitra 29
Samriddhi Finance Company Limited (SFCL) is auctioning its unclaimed right shares. The auction will open on 29th Chaitra, 2078, and conclude on 7th Baisakh, 2079.
73,100 unit ordinary shares and 8,67,366 unit promoter shares will be auctioned. This is the unclaimed portion of the 2: 1 rights offering. The finance company allotted its 2:1 ratio rights offering on 16th Chaitra, 2078. The rights offering was open from 8th Falgun to 29th Falgun, 2078. Poush 11 was the book closure date. Thus, shareholders maintained before that day were eligible to apply for the right shares.
Of the 27,29,705 shares issued, the company only received valid applications for 17,89,239 shares, which have been allotted. The remaining 73,100 unit ordinary shares and 8,67,366 unit promoter shares, totaling 9,40,466 shares will now be auctioned by the company.
The existing promoters, general public, and institutions are all eligible to bid for the auction. Rs. 100 is the minimum bid rate for the auction. While the minimum bid quantity for promoters’ shares is 1000 units, the minimum bid quantity for ordinary shares is 100 units. There is no upper limit for both shares. Although bidders can bid for the entirety of the issue, they are required to abide by Nepal Rastra Bank's rule to not exceed the specified quantity of shares per entity.
BOK Capital has been appointed the auction manager.
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