City Hotel Limited to Issue Rights Shares from 23rd Bhadra

City Hotel Limited is set to issue rights shares starting from 23rd Bhadra. The company will issue 1,33,92,000 rights shares at a price of Rs. 100 per share, representing 80% of its current paid-up capital, which amounts to Rs. 1.67 billion. The rights offering will be made at a ratio of 8 new shares for every 10 shares held.

The company has already closed its books on 27th Shrawn, meaning only shareholders who hold shares as of 26th Shrawn (prior to the closure) will be eligible to apply for the rights shares. The application deadline for the rights shares is 12th Ashoj.

Prabhu Capital has been appointed as the issue manager for this rights offering.