Kathmandu: Nepal Infrastructure Investment Fund Limited is preparing to issue right shares to its promoter shareholders in a 3:1 ratio following a decision approved by the company’s Special General Meeting (SGM).
Eligible promoter shareholders whose holdings are recorded in the company’s records as of Ashwin 30 will be entitled to apply for the newly issued right shares.
4 Million Right Shares to Be Issued
NIIF will issue a total of 4,000,000 ordinary right shares at a face value of NPR 100 per share. Under the 3:1 right share ratio, eligible promoter shareholders will be entitled to receive one new right share for every three existing shares held.
The total issue size will amount to NPR 400 million. The company currently has a paid-up capital of NPR 1.20 billion, which will increase following the issuance and allotment of the right shares.
Applications Open From Ashwin 2
The application period for the right shares will open from Ashwin 2. Eligible promoter shareholders will be required to submit their applications by Ashwin 14 within office hours.
Only promoter shareholders maintained in the company’s records as of the specified eligibility date will be entitled to participate in the right share issue.
Unsubscribed Shares to Be Auctioned or Redistributed
Any right shares that are not subscribed by eligible promoter shareholders within the prescribed application period will be managed according to the company’s regulations and procedures approved by the Board of Directors.
The unsubscribed portion may be auctioned or redistributed through the applicable procedures.
The right share issue is expected to support the company’s planned capital expansion and increase its paid-up capital following the completion of the issuance and allotment process.
