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Himalayan Power Partner Limited Concludes Auction for 468,740 Units of Unclaimed Rights Shares

Himalayan Power Partner Limited (HPPL) has officially closed its public auction today for 468,740 units of ordinary rights shares that remained unsubscribed during its recent 1:0.50 rights offering.

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Himalayan Power Partner Limited Concludes Auction for 468,740 Units of Unclaimed Rights Shares

Himalayan Power Partner Limited (HPPL) has successfully concluded the bidding window for its public auction of 468,740 units of unclaimed ordinary rights shares. The auction, which originally opened for bidding on Jestha 27, 2083, officially closed today, Ashadh 4, 2083. This auction comprised the remaining 8.79% of the shares that were left unsubscribed by eligible investors during the company's initial rights issuance. Previously, HPPL had rolled out a 1:0.50 rights share offering to its existing shareholders from Baishakh 17 to Jestha 6, 2083. Out of the total rights shares issued, 4,858,345 units (91.2%) were successfully claimed and allotted to 46,769 valid applicants. To liquidate the remaining 468,740 unclaimed units, the hydropower company opened the bidding pool to both individual and institutional investors from the general public. Global IME Capital Limited managed the auction process as the designated issue manager. According to the auction guidelines, the minimum bid rate was set at NPR 100 per share, with a minimum order quantity of 100 units. While investors were permitted to bid for the entire pool of available shares, they were required to adhere to the maximum regulatory holding limits per entity specified by the authorities.

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