The company is issuing 1:0.5 units of right shares of its paid-up capital of 1.06 billion. Accordingly, it will issue 5,327,085 units of right shares worth Rs 532.7 million at a face value of Rs 100 per share.
In this regard, the company closed its book on March 24, therefore, the shareholders registered in its book till March 23 will be eligible to apply for the right share.
The issue will close on May 20.
Care Ratings Nepal has assigned CareNP BB- rating to the company indicateing moderate risk.
The company has appointed Global IME Capital Limited as issue manager. The interested shareholders can apply for the shares from Global IME Bank's branch office at Beshishahar, Dordi, Bhoteodar and Udipur. Similarly, they can apply for from all C-ASBA approved BFIs and Meroshare.
The paid-up capital will reach Rs 1.59 billion after the right issue.
The proceeds received from the right issue will be used to repay consortium loan taken from Prime Commercial Bank, Nabil Bank, Nepal Investment Mega Bank, Prabhu Bank and Hydroelectricity Investment and Development Company.
