PPL People’s Power to Auction Unsold Rights Shares

PPl People’s Power Limited has announced that it will sell its unsold rights shares through an auction process. The company had issued a total of 3,163,000 rights shares at a ratio of 1:0.50 (5 new shares for every 10 shares held) from Ashad 22 to Shrawan 26. Only shareholders registered in NEPSE by Ashad 1 were eligible to apply.

During the issuance period, a total of 91,938 shareholders were allotted 2,771,211 rights shares. The remaining 391,779 shares will now be auctioned from Bhadra 15 to Bhadra 22.

The minimum bid price has been set at NPR 100 per share. Applicants must bid for at least 100 shares and can apply for up to the entire available quantity.

The auction is open to all interested individuals, promoters, and institutions. Bid forms will be available at the office of the issue manager, Prabhu Capital Limited, Kamaladi, Kathmandu, as well as at Prabhu Bank’s branches in Biratnagar, Birgunj, Hetauda, Pokhara, Butwal, Surkhet, and Dhangadhi. Completed forms must be submitted at the same locations.