Buddha Bhumi Nepal Hydropower to Float 1:1 Right Share | ERC Provides Pre-Approval
May 21, 2024 | Investopaper
Buddha Bhumi Nepal Hydropower Company Limited (BNHC) is planning to sell right shares to the shareholders. For this purpose, Electricity Regulatory Commission (ERC) has given pre-approval to the company for taking the right issuance agenda to its respective Annual General Meeting (AGM).
The hydropower company has plans to sell the right share in the ratio 1:1. This means that shareholders’ with 100 shares can apply for the additional 100 right shares.
Now, if approved by the shareholders’ meeting, the company will begin the procedures for the right offering.
As of Chaitra’s end 2080 BS, Buddha Bhumi Nepal Hydropower has a paid up capital of Rs. 40 crores. Hence, the company will issue 40 lakh shares that amounts to Rs. 40 crores.
The hydropower company has appointed NIC Asia Capital Limited as the issue and sales manager. An agreement has been reached between the company and NIC Asia Capital on this regard.
Buddha Bhumi Nepal Hydropower is currently managing a 4.993-MW Lower Tadi Khola Hydropower Project. The project is a run-of-the-river (RoR) project located in the Nuwakot district.
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