CIT allots HIDCL’s shares

Kathmandu, Jan 13: Citizen Investment Trust (CIT) allotted ordinary shares of Hydroelectric Investment and Development Company Limited (HIDCL) today.

Issuing a statement amid a press conference in the Capital today, CIT distributed 20 million shares after 69 days of the applications collected.As per the distribution, the total 195,203 small scale investors applying to buy up to 500 shares each are provided with a total of around 7.4 million shares to be its 11.40 percent.

Likewise, the total 3,04,652 investors applying to purchase more than 500 shares each are allotted the total around 11. 1 million shares to be its 2.90 percent.

Similarly, those applying to buy a minimum 50 shares each are given 10 shares, while those applying to purchase a maximum 5 million shares are provided with 14,4818 shares.

Also those applying to buy 500 shares are provided with 56 shares.

According to the CIT, out of the total 304,652 applications collected, 534 were annulled. Meanwhile, CIT chief executive officer Ram Krishna Pokharel said that they would start returning the excess amounts within one week after completing some technical matters. RSS