Api Power Company To Close 1:0.3936 Right Share From Baisakh 15

April 28, 2022 | Investopaper

Api Power Company Limited (API) is currently issuing the right share to the shareholders from Chaitra 25, 2078 BS. The right offering will close on Baisakh 15, 2078 BS.

The hydropower company is selling the right share in the ratio 1:0.3936. This means that each shareholder with 100 shares can apply for 39.36 right shares at a par value of Rs 100. The company will issue 10,860,000 units right shares. This amounts to Rs 108.60 crores.

For this purpose, the company has announced the book closure date on Chaitra 14, 2078 BS [March 28, 2022]. Therefore, investors holding/purchasing the shares of API until Chaitra 13, 2078 BS will be eligible to purchase the right shares.

Securities Board Of Nepal (SEBON) has provided the approval to the company on Falgun 26, 2078 BS. The company had submitted the application to the regulatory body SEBON on Ashwin 25, 2078 BS

Muktinath Capital Limited is the issue and sales manager for the right of Api Power Company.

As of Ashad’s end 2078 BS, Api Power Company has a paid-up capital of Rs 275.89 crores. After the issue of the right, the capital will rise to Rs 384.48 crores.

Previously, the company had sold 56,70,000 unit right shares to the shareholders from Jestha 20-Ashad 13, 2078 BS.

Suggested Readings:

How To Apply IPO/FPO/Right Share Through Mero Share?

Api Power Company’s 1:0.2938 Right Issue


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