The company started issuing 65 percent right shares from July 31.
The company is issuing 2,414,100 units of right shares worth Rs 241.4 million at a ratio of 1:0.65.
In this regard, the company closed its book on June 22, thus, the shareholders registered in its book till June 19 (last trading day before book close) will be eligible to apply for the right shares.
Care Rating Nepal has assigned B rating to the issuer indicating high risks.
The company has appointed Laxmi Sunrise Capital as issue manager. The interested existing shareholders can apply from the office of issue manager and Illam branch of Laxmi Sunrise Bank. Moreover, they can apply from all C-ASBA approved BFIs and Meroshare.
Currently, the company has paid-up capital of Rs 371.4 million that will reach Rs 612.8 million after the right share distribution.
