City Hotel Limited Completes Allotment of Right Shares in 1:0.80 Ratio

City Hotel Limited has successfully completed the allotment of its right shares in a 1:0.80 ratio to its shareholders. The company allotted 13,392,000 units of ordinary right shares to eligible shareholders on 11th Kartik, 2082.

According to the company, the right shares were issued for shareholders registered up to 26th Shrawan, 2082, based on the company’s existing paid-up capital of Rs. 1.67 billion. A total of 49,185 shareholders had applied for the issue, and 11,241,582 units of right shares were allotted to the valid applicants.

The company has also arranged to refund the excess application amounts to investors who applied for more shares than their entitlement. The refunds will be processed through the Interbank Payment System (IPS) and credited to the respective bank accounts starting Wednesday, 12th Kartik, 2082. Investors have been advised to verify the credited amount in their bank accounts.

The issue and sales management of the right shares was handled by Prabhu Capital Limited, a subsidiary of Prabhu Bank Limited.

City Hotel Limited, located in Soltimode, Kathmandu, operates the City Express Hotel and has been expanding its investment in the hospitality sector in recent years.