Kathmandu. The lock-up period of about 3.75 crore units of shares of City Hotel is coming to an end.
Issuing a notice today, the hotel informed that the auction period for 2,72,39,328 units of shares will end from May 19. Currently, the promoter shareholders of the hotel have 2,71,18,800 units and employees have 120,528 units of shares in the lock-up.
Any company has to keep the shares of the promoter and employees in the lockout for 3 years from the date of IPO allotment.
