Pokhara Finance to auction unclaimed Right shares from 18 Chaitra; includes over 1 lakh units ordinary and 80 thousand promoter shares

Pokhara Finance has announced date to auction its unclaimed right shares. This includes 1,00,353.47 unit ordinary and 80,348.27 unit promoter shares. The auction will commence on 18th Chaitra, 2074. (1st April, 2018) and end on 25th Chaita,2074 (8th April). 

Pokhara Finance had floated 9,83,682.74 unit right shares at a ratio 10:1.5 from 30th Poush. The right issue closed on 6th Falgun, 2074, where approx. 1.80 lakh (18.37%) shares were unsubscribed. Those shares will now be auctioned among general public. However, only existing promoters are eligible to bid for promoter shares.   

NIBL Ace Capital will be managing the auction.

Interested bidders can get the forms from NIBL Ace Capital, Lazimpat and its branches. The interested bidders can also apply from head office of Pokhara Finance or stated branches of Nepal Investment Bank outside the valley. Bidders can bid for a minimum of 100 units at a price of 100 or above. However, minimum 1000 units has to be applied for promoter shares. Payment procedure as prescribed in the form must be followed. 

Pokhara Finance Ltd. had recently issued FPO at Rs 220 and declared a dividend of 8.26%. The company will meet the paid-up capital requirement for the National level finance companies after the listing of right and bonus shares. PFL will have a new capital of Rs 81.63 crores. 

PFL was last traded for Rs 146 in the local bourse.