Rairang Hydropower and Ridi Hydropower Started Joint Transaction from Ashad 31 After Successful Merger
Mon, Aug 8, 2022 10:51 AM on Latest, Merger/Acquistion,
Rairang Hydropower (RRHP) and Ridi Hydropower (RHPC) has started joint transaction in the name of "Ridi Power Company Limited" from 31st Ashad, 2079 (15th July, 2022). The companies had signed an agreement to merge with each other on Kartik 17, 2078 and trading of both the companies has been halted since then.
The companies were given final approval for joint transaction by Electricity Regulatory Commission and by the Office of Company Registrar on Ashad 30. The agreements between RHPC and RRHP decided on a swap ratio of 1:0.93, which means that the shareholders of RRHP gets 100 shares equal to 93 shares of RHPC.
After the merger of these companies, the total joint paid-up capital equates to Rs. 1.106 Arba.
The companies will now operate under the name of "Ridi Power Company Limited" with the central office at Trade Tower (5th Floor), Thapathali, Kathmandu.
