The company is issuing 150 percent i.e. 10:15 units of right shares to its existing shareholders from August 11..
The shareholders of the company can apply for 12 million units of right shares worth Rs 1.20 billion.
In this regard, the company closed its book on July 16, thus, the shareholders registered in its book till July 15 will be eligible to apply for the right shares. The issue will close on September 1.
ICRA Ratings has assigned B- rating to the issue indicating high risks.
The company has appointed Nabil Investment Banking as issue manager. The interested shareholders can apply from issue manager and designated branches of Prime Commercial Bank, Prabhu Bank, Machhapuchchhre Bank ande Kumari Bank. Moreover, they can apply from all ASBA approved BFIs and Meroshare.
Currently, the company has paid-up capital of Rs 800 million which will reach Rs 2 billion after the right issue.
As per the company, it will mobilize Rs 800 million of accumulated fund to own 60 percent shares of Ankhukhola 2 Jalvidhyut promoted by Ganesh Himal Hydropower Company and remaining Rs 400 million to repay loan taken to develop Ankhukhola 1 Project.
