Terhathum Power Rights Share Allotment Complete: What Investors Need to Know
Terhathum Power Company Limited has successfully completed the rights share allotment process, a significant event for investors looking to expand their portfolio within the Nepali stock market. If you are an investor who participated in the recent rights issue, this is the crucial information you need to know!
Nabil Investment Banking Limited, the issue manager, finalized the allotment on Shrawan 18. A total of 40 lakh units of rights shares were initially offered, representing a substantial opportunity for shareholders to increase their holdings. This rights issue was offered at a 1:1 ratio, meaning existing shareholders were entitled to one new share for every share they already owned.
The rights issue opened on Asar 16 and closed on Shrawan 11, giving investors ample time to apply for the rights shares. Out of the total offered, a significant 35,81,262 shares were successfully allotted to eligible investors. This demonstrates strong investor interest in Terhathum Power.
But what about the remaining shares? A remaining 4,18,738 shares will now be offered through an auction. This auction presents a further opportunity for investors to acquire Terhathum Power shares, potentially at a different price point. Keep an eye on market announcements for details on the auction process.
Good news for those who applied for more shares than they were allotted: Refunds for excess applications will begin from Shrawan 21. This process ensures that any unallocated funds are returned to the investors in a timely manner.
The book closure date for the rights issue was set for Jestha 5. This date determined the eligibility of shareholders to participate in the rights offering. Only shareholders holding shares up to Jestha 4 were able to apply. The Securities Board of Nepal (SEBON) approved the rights offering on Baisakh 19, paving the way for this investment opportunity.
For investors keen to stay informed about Nepali stock market news, including right share offerings and stock market updates, stay tuned to trusted sources for the latest insights and analysis. This information helps you navigate the stock market and make informed investment decisions.
