Progressive Finance Starts Re-auction of Unsold Right Shares

Jan 29, 2019 Merolagani

Progressive Finance (PROFL) has started re-auctioning 1,330,255 units of unsold right shares from January 29. The company is auctioning 1,330,255 units of general right shares that went unsold during its first auction from November 26 to December 10. The re-auction will close on February 5.

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

The interested bidders can bid for the shares from Sunrise Capital at Kamalpokhari-Kathmandu 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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