Nepal Finance Limited Opens Auction for Unsubscribed Rights Shares

Nepal Finance Limited has opened an auction to sell 794,971.187 units of unsubscribed rights shares. After allotment to both the founder and general shareholders, the remaining shares are being offered for sale through sealed-bid auction starting today (Bhadra 12).

According to the company, any individual, company, or institution can participate in the purchase. The minimum price has been set at Rs. 100 per share, while interested buyers must submit a sealed bid with an offer higher than the base price, clearly stating the number of shares and the rate per unit.

The application period runs from Bhadra 12 to Bhadra 26. A minimum of 1,000 units must be applied for, and bids must be placed in multiples of 10 thereafter.

Bid forms will be available at the issue manager Prabhu Capital Limited, the central office of Nepal Finance in Banepa, and its branches in Machhapuchhre, Lagankhel, and Tilottama. Additionally, forms can also be obtained and submitted at Prabhu Bank branches in Biratnagar, Birgunj, Pokhara, Nepalgunj, Surkhet, and Dhangadhi.