Terhathum Power Launches Closing Auction for 4,18,738 Unclaimed Right Shares
Terhathum Power opens the final auction for 4,18,738 unclaimed right shares from its 1:1 rights issue, closing today.
Terhathum Power Company Limited (TPC) has commenced the closing auction of 4,18,738 unclaimed units from its previous 1:1 rights issue. The auction, which opened on 27th Shrawan, will conclude today, 3rd Bhadra, 2082.
During the rights offering period from 16th Ashadh to 11th Shrawan, 35,81,262 shares were successfully allotted to eligible shareholders. However, 4,18,738 shares, representing 10.46% of the total issue, remained unclaimed.
The unclaimed shares are now available for bidding by both individual and institutional investors. Nabil Investment Banking Limited serves as the issue manager for this auction. The minimum bid rate is set at Rs. 100 per share, with a minimum bid quantity of 100 units. While bidders can place offers for the full lot, the Nepal Securities Board regulations restrict any entity from exceeding the permissible share quantity.
This auction provides a final opportunity for the general public to acquire unclaimed rights shares and participate in Terhathum Power’s shareholder base.