City Hotel Limited (CITY) has officially opened the issuance of its 80% rights shares today, offering a significant investment opportunity to its existing shareholders. The subscription window will remain open until 12th Ashwin, 2082.
Rights Share Details
The company is issuing 13,192,000 units of right shares in a ratio of 1:0.80, equivalent to 80% of its current paid-up capital. The total value of the rights issue amounts to Rs. 1.67 Arba.
City Hotel Limited currently has a paid-up capital of Rs. 1.67 Arba. Upon the successful allotment and adjustment of the proposed rights shares, the company’s paid-up capital will increase to Rs. 3.01 Arba.
Issue Manager Appointment
Prabhu Capital Limited has been appointed as the issue manager for the rights offering, overseeing the application and allotment process for eligible shareholders.
Eligibility Criteria
The book closure date for the rights issue was set on 27th Shrawan, 2082. This means that only investors who held shares of City Hotel Limited before this date are eligible to apply for the rights shares.
Strategic Capital Expansion
The rights issue is part of City Hotel Limited’s capital expansion plan aimed at strengthening its financial base and funding future growth initiatives. The increased capital will potentially enhance the company’s capacity to expand operations and improve service offerings in Nepal’s hospitality sector.
