February 23, 2021 | Investopaper
Api Power Company Limited is going to float the right shares to its shareholders. The company has submitted the application to the Securities Board Of Nepal (SEBON) on Falgun 9, 2077 BS for the right offering. The hydropower is planning to issue right in the ratio of 1:0.2938. This means that shareholders with 100 shares can apply for 29.38 right shares.
If approved by Sebon, the company will sell 56,70,000 right shares at a par value of Rs 100. Hence, the total right issue size amounts to Rs 56.70 crores.
Muktinath Capital Limited has been appointed as the issue manager.
Previously, Api Power Company had issued 56.70 lakh right shares in the ratio 1:0.47 from Karthik 14 to Mangsir 4, 2077 BS.