Api Power Company (API) Proposes to Issue Right Shares at the Ratio of 1:0.40

According to the decision of the Board of Directors meeting of Api Power Company Limited (API) the company has decided to issue right shares in the ratio of 1:0.40 i.e 16533137 right shares of Rs. 100 par value.

The meeting of the board of directors held on Poush 21 decided to distribute the dividend on the paid-up capital of the company. 7.5% bonus shares on the paid-up capital of Rs. 3.84 Arba had been proposed, increasing the total paid-up capital to Rs. 4.13 Arba. Hence, after the rights issue of 1:0.40 (40%) the Paid-up capital of the company will be revamped to Rs. 5.78 Arba.

The company has proposed to issue right shares to pay off the debt of the projects that are being produced by the company and the right shares shall be issued only after the approval from the regulatory body - Electricity Regulatory Commission as well as Securities Board of Nepal (SEBON).