Kathmandu. The sale of 47 percent shares of Api Power Company Limited will be open from October 30 (Friday). Appeal 1 equals zero point 47 per share. A total of 5.67 million shares with a face value of Rs 100 will be issued by November 19.

 The Nepal Securities Board, the regulatory body, had given approval to sell the rights on March 27. The Board had approved the rightful eviction on the condition that the rightful eviction would take place only after the financial investment agreement was reached. As per the terms of the appeal board

has signed agreements with six organizations to invest Rs. 5.18 billion on September 25.

The appellant has closed the book on March 22 for 47 percent rights and general assembly purposes. On the basis of the book close, only the existing shareholders will be able to apply for the rights. ICRA Nepal has given a rating of ICRA NP IPO Grade 4 indicating below-average basis for this right of APC. The rightful sales manager is Siddhartha Capital.

 Applications can be submitted from Api Power Company's Thapathali office, Siddhartha Bank's Biratnagar, Birgunj, Pokhara, Butwal, Nepalgunj, Dhangadhi and Surkhet as well as Global IME Bank Limited branch offices in Gokuleshwar, Naungad, Khalanga and Baitadi along with the sales manager. Similarly, application can also be made through the branch offices of all the banks and financial institutions participating in the C-ASBA service and through my share of CDSC.