100% Right Shares of Singati Hydro Approved; Company to Issue 1.45 Crore Worth Right Shares Soon
Thu, Dec 28, 2023 11:24 AM on Latest, Dividend, Bonus & Rights,
The Securities Board of Nepal (SEBON) has approved the rights offering proposal of Singati Hydro Energy Limited (SHEL) on Poush 11, 2080.
The company will be issuing 100% right shares worth Rs. 1.45 Arba through the issue of 14,500,000 (1: 1) units of right shares to its existing shareholders.
The current paid-up capital of Rs. 1.45 Arba. After the adjustment of the proposed right share i.e. 1.45 crore units, the paid-up capital of the company will increase to Rs. 2.90 Arba.
The hydropower company claims that the decision to issue the right shares has been taken to generate income for investment into other companies as well as for debt clearance.
Kumari Capital is appointed as the issue manager. The application was submitted to the board on Ashad 27, 2080.
As of writing, SHEL closed at Rs. 281.90.
