Nepal Warehousing Company Limited Proposes to Issue 100% Right Shares

According to the decision of the Board of Directors meeting of Nepal Warehousing Company Limited (NWCL), the company has proposed to issue right shares in the ratio of 1:1 or 100% right shares.

The meeting of the board of directors held on Ashwin 14 has decided to issue the 100% right shares on the paid-up capital of Rs. 68.75 Crore to invest in its hydropower projects. Hence, after the issue of 6,875,000 units of right shares, the paid-up capital of the company will increase to Rs. 1.37 Arba.

It is important to note that the issuance of these rights shares is contingent upon receiving approvals following the endorsement at the company's upcoming Annual General Meeting (AGM).

NWCL closed at Rs. 890.00 yesterday.