City Hotel to Sell 1:0.8 Right Share
December 1, 2024 | Investopaper
City Hotel Limited (CITY) is planning to sell right shares to the shareholders. As informed on Nepse, the company has decided to float the right shares in the ratio 1:0.8. This means that the shareholders with 100 shares can apply for the additional 80 shares.
As of Ashwin’s end 2081 BS, CITY has a paid up capital of Rs 167.40 crores. Hence, the company has plans to sell right shares worth Rs. 132.92 crores. After the right issue, the paid-up capital will reach Rs. 300.32 crores.
City Hotel Limited is promoted by Golyan Group, Kamlesh Agrawal, and Harish Chandra Subedi. It is currently operating Hyatt Place Hotel which started operation from Karthik 15, 2078 BS. It has 153 rooms, a restaurant, a banquet hall, gym, swimming pool, and a conference hall with a capacity of up to 400 people.
After receiving endorsement from the upcoming annual general meeting, the company will begin the procedures for the right offering.
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