September 16, 2022 | Investopaper
Barun Hydropower Company is currently issuing right shares to the shareholders. The right offering is open from Bhadra 6, 2079 BS.
The right issue will close on Bhadra 31, 2079 BS. Previously, it was set to close on Bhadra 26, 2079 BS. However, due to under-subscription until that period, the deadline for application was extended.
The company is selling right shares in the ratio 1:1. This means that, shareholders with 100 share can apply for the additional 100 shares.
Investors who purchased the shares of BARUN until Shrawan 1, 2079 BS are eligible to apply for the right shares.
At present, Barun Hydropower has a paid-up capital of Rs. 26.79 crores. Hence, the company will sell 2,679,075 right shares at a par value of Rs. 100.
Securities Board Of Nepal (SEBON) has granted permission to the company on Ashad 15, 2079 BS for the issuance for right shares. The company had submitted the application the board on Jestha 11, 2079 BS.
The hydropower has appointed RBB Merchant Banking Limited as the issue and sales manager for the right offering. The company signed an agreement with RBB Merchant Bank Limited on Sunday. The agreement was inked by Krishna Lal Shrestha, Director of the company and Badriprasad Pyakurel, Chief Executive Officer of RBB Merchant Banking Limited.
The company had already passed a resolution at its annual general meeting held on Poush 26, 2077 BS to issue the right share.