Kathmandu. The lock-up period of 54,23,000 units of shares of Manakamana Engineering Hydropower Company is about to expire. The company has issued a notice today stating that the lock-up period of 54,23,380 units of shares will end after August 17.
Out of the total offered shares, the promoter has 52 Lakh units, 1,83,380 units of local units and 40,000 units of employees of the company.
As per the provision, the promoter, local and employee shares of any company should be kept in locks for 3 years from the date of allotment. According to the same provision, the lockout period is about to expire.
However, in the case of the directors and employees working in the top management position of the company, the shares will be frozen as per the rules.
