Upper Hewakhola Hydropower Company Proposes to Issue 100% Right Shares; Decision Subject to Approval from ERC

According to the decision of the Board of Directors meeting of Upper Hewakhola Hydropower Company Limited (UHEWA), the company has proposed to issue right shares in the ratio of 1:1 or 100% right shares.

The board of directors' meeting held on Falgun 7, 2081, decided to issue 100% right shares with a paid-up capital of Rs. 50 Crore. Hence, after the issue of 5,000,000 units of right shares, the company's paid-up capital will increase to Rs. 1 Arba.

However, it is important to note that the issuance of these right shares is contingent upon receiving approvals from both the regulatory bodies, namely the Electricity Regulatory Commission and the Securities Board of Nepal (SEBON).

UHEWA closed at Rs. 873.00.