50% Right Shares of Ridi Power Company Limited and 100% Right Shares of Arun Valley Hydropower Approved By SEBON
Fri, Jan 5, 2024 12:57 PM on Dividend, Bonus & Rights, Latest,
The Securities Board of Nepal (SEBON) has approved the rights offering proposal of Ridi Power Company Limited (RIDI) on Poush 19, 2080.
The company will be issuing 50% right shares worth Rs. 77.44 Crores through the issue of 7,744,506 (1: 0.50) units of right shares to its existing shareholders.
The current paid-up capital of Rs. 1.54 Arba. After the adjustment of the proposed right share i.e. 77.44 lakhs units, the paid-up capital of the company will increase to Rs. 2.32 Arba.
The hydropower company decided to issue 50% right shares so that the company could invest in the Tallo Balephi hydropower project of Sajha Power Development Company.
Muktinath Capital Limited is appointed as the issue manager. The application was submitted to the board on Shrawan 24, 2080.
As of writing, RIDI closed at Rs. 221.00
Similarly, The Securities Board of Nepal (SEBON) has approved the rights offering proposal of Arun Valley Hydropower Development Company Limited (AHPC) on Poush 19, 2080.
The company will be issuing 100% right shares worth Rs. 1.86 Arba through the issue of 18,679,626 (1: 1) units of right shares to its existing shareholders.
The current paid-up capital of Rs. 1.86 Arba. After the adjustment of the proposed right share i.e. 1.86 crore units, the paid-up capital of the company will increase to Rs. 3.72 Arba.
The meeting of the board of directors held on Baisakh 06 has proposed to issue right shares in the ratio of 1:1 i.e 18,679,626 right shares of Rs. 100 par value worth Rs 1.86 arba so that the company can invest 50% of the issued right shares amount i.e. 93,39,813 unit right shares worth Rs 93.39 crore in the Likhu Khola Hydropower Project (30 M.W.) promoted by PK Hydropower Pvt. Ltd. The remaining 93,39,813 unit shares worth Rs 93.39 crore will be used in paying off the loan taken by the company for the Kabeli 'B'-1 Cascade Hydropower Project in Panchthar.
Muktinath Capital Limited is appointed as the issue manager. The application was submitted to the board on Shrawan 24, 2080.
As of writing, AHPC closed at Rs. 236.60.
