Api Power Extends Deadline of Right Shares

Jun 23, 2021 09:39 AM Merolagani

Api Power Company (API) has extended the deadline of 29.38 percent right shares. The company that started the issuance from  June 3 extended the deadline till June 27.

The company is issuing 5.67 million units of right shares worth Rs 567 million at a ratio of 1:2938.

The company has appointed Muktinath Capital as its issue manager. The interested existing shareholders of the company can apply for the right shares from all ASBA approved BFIs and meroshare.

Moreover, they can apply from Muktinath Capital, Api Power Company, and designated branches of Muktinath Bikas Bank.

The company closed its book for the right issue on May 12, thus, the shareholders registered in its book till May 11 is eligible to apply for the right shares.

Care Ratings Nepal has assigned B+ rating to the issue indicating high risk of default.

Currently, the company has a paid-up capital of Rs 1.92 billion that will reach Rs 2.49 billion after the right issue.

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