The lock-in period for over 57 lakh shares of Bhagawati Hydropower Development Company Limited is set to expire on Bhadra 17.
Bhagawati Hydropower Development Company Limited has announced that lock-in period for its 57,85,386.35 units of shares is ending on upcoming Bhadra 17. Once this lock-in period ends, these shares can be traded in secondary market.
According to the company, shares that are coming out of lock-in includes 50,86,799.25 units belonging to promoter shareholders. Similarly, it also has 6,78,239.90 units of project-affected local residents and 20,347.20 units of shares that were allocated to company employees.
Rules for Lock-in Period
These shares were locked according to the rule where shares distributed to promoters, local residents of project-affected areas, and employees must be kept in lock-in for three years from date of IPO allotment.
After the lock-in period ends, people can trade these shares regularly from Bhadra 18. However, company has informed that shares of directors and employees who are working in high-level management positions will remain locked as per the existing rules.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
