February 23, 2022 | Investopaper
Panchthar Power Company Limited (PPCL) is going to convert promoter shares to ordinary shares. As informed on NEPSE, the hydropower company will convert 78,84,348 units shares in order to trade on the stock exchange as ordinary shares.
The total shares under conversion include 77,00,000 units promoter shares, 1,74,750 shares held on locals of project affected areas, and 9,598 units shares owned by the employees of the company.
The conversion will take place at Falgun 23, 2078 BS [March 6, 2022]. After this date, the promoters, locals and the employees can sell the shares on Nepal Stock Exchange at the price of ordinary shares.
Panchthar Power Company is operating a 14.9 MW Hewa Khola A Hydropower Project.