Arun Valley Hydro to issue right shares from tomorrow

Kathmandu, April 18

Arun Valley Hydropower Development Company Limited will open sale of 50 percent of its right shares from Monday.

The company is about to open the sale of 52 lakh 41 thousand 197 shares at the face value of Rs. 100. The current paid up capital of the company is Rs. 1 arba 4 crore 82 lakh 39 thousand 400. The company is going to sell the right shares in the ratio of 1: 0.52 on the basis of the paid up capital.

Applications for the right share purchase can be submitted till Baisakh 26. Care Ratings Nepal has given Care NP Double B Plus rating to this rightful share which the company is about to issue. This rating indicates that the company’s ability to bear responsibility is an average risk.

Muktinath Capital is the sales manager of the company. There is an arrangement to apply through Meroshare along with the sales manager and all the banks and financial institutions participating in CASBA service. The company has closed the book for one day on Chaitra 9 for the rightful purpose. On the basis of book close, only the existing shareholders till Chaitra 8 are eligible to apply for the right shares.

The company, which had filed an application with the board seeking permission to sell its shares on Ashoj 21, got permission from the Securities Board of Nepal on Falgun 25. The board has given permission to the company to sell 50 percent of its shares in the first phase.