August 24, 2021 | Investopaper
Hydroelectricity Investment and Development Co. Ltd (HIDCL) is currently issuing the right share to the shareholders in the ratio of 1:1. This means that shareholders with 100 shares can apply for the additional 100 right shares. The right offering is open from Shrawan 5, 2078 BS. The right issue was set to close on Shrawan 25, 2078 BS. However, due to under-subscription until that period, the deadline for application was extended. Eligible shareholders can apply for the right share until Bhadra 8, 2078 BS
For the purpose of rightissue, the company had closed the shareholders’ registration book on Jestha 28, 2078 BS. Hence, the shareholders purchasing the shares until Jestha 27, 2078 can apply for the right shares.
Securities Board Of Nepal (SEBON) provided the approval on Jestha 9, 2078 BS to the right offering. The company had submitted the application to SEBON on Chaitra 12, 2078 BS.
HIDCL is planning to float 110,000,000 shares at a par value of Rs 100. Hence, the right issue amounts to Rs 11 Arba.
The company has appointed Global IME Capital Limited as the issue and sales manager for the right offering.