Progressive Finance Starts Auctioning Unsold Right Shares

Nov 26, 2018 Merolagani

Progressive Finance (PROFL) has started auctioning 2,120,604 units of unsold right shares from November 26. The company is auctioning 448,649 units of promoter and 1,671,955 units of general right shares that went unsold during its issuance. The auction will close on December 10.

The company has appointed Sunrise Capital as its issue manager. The bidders can bid for a minimum of 100 general and 1,000 units of promoter shares at a minimum price of Rs 100.

The interested bidders can bid for the shares from Sunrise Capital at Kamalpokhari-Kathmandu, Progressive Finance at Pako-Newroad, Ugratara Janagal-Banepa, Kavre and Biratnagar, BIrgunj, Butwal, Pokhara, Nepalgunj, Surkhet and Dhangadhi branch at Sunrise Bank.

Presently, the company has a paid-up capital of Rs 210 million that will reach Rs 800 million after capitalization of the right issue.


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