The company is issuing 40 percent right shares of its paid-up capital to its existing shareholders from August 16.
The company closed its book on July 7 for the right issue, therefore, the investors registered in its book till July 6 are eligible to apply for the right shares.
The company is issuing 1:0.40 right shares to its existing shareholders. Accordingly, it will issue 16,533,137 units of shares at a face value of Rs 100 amounting to Rs 1.65 billion.
Right now, the company has a paid-up capital of Rs 4.13 billion that will reach Rs 5.78 billion after the right issue.
Care RAings Nepal has assigned BB+ rating to the issue indicating moderate risks.
The company has appointed Muktinath Capital Market as issue manager. The interested existing shareholders can apply from Muktinath Capital, designated branches of Muktinath Bank, all C-ASBA approved BFIs and Meroshare.
Api Power is operating 8.5 MW Naugadh Small Hydropower Project, 8MW Upper Naugadh Hydropower Project, 4MW Gandranigahpur Solar Project, 1MW Dhalkewar Solar Project and 1 MW Simara Solar Project. Currently, it is developeing 40 MW Upper Chamaliya Hydropower Project.
