Shiva Shree Hydropower to Float 1:1 Right Share
July 22, 2024 | Investopaper
Shiva Shree Hydropower Limited (SSHL) is planning to sell right shares to the shareholders. The company has decided to float the right shares in the ratio 1:1. This means that the shareholders with 100 shares can apply for the additional 100 shares.
For this purpose, Shiva Shree Hydropower has submitted the application to the Securities Board of Nepal (SEBON) on Ashad 24, 2081 BS. Only after the approval from the regulatory body SEBON, the company can issue the right shares.
At present, SSHL has a paid up capital of Rs. 147.64 crores. Hence, the company has plans to sell right shares worth Rs. 147.64 crores. After the right issue, the paid-up capital will reach Rs. 295.28 crores.
The company will pay the loans taken from BFIs from the proceeds received through right offering.
Citizens Capital Limited is the issue and sales manager for the right offering.
Shiva Shree Hydropower is currently operating a 22.2 MW Upper Chaku ‘A’ Hydroelectric Project in Sindhupalchowk district.
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