Arun Valley Hydropower to issue right shares

Kathmandu, March 9

Arun Valley Hydropower Development Company Ltd has got permission to issue its shares.On Tuesday, the Securities Board of Nepal approved the company to issue the right share in the ratio of 1: 0.5.

A total of 52,41,197 shares will  be issued at Rs. 100 per unit . The company has distributed a 5.263% dividend for the fiscal year 2076/77, i.e. 5% bonus shares and 0.263% cash dividend (for tax purposes).

This is the first phase issue of the 1:1 right shares issue that Arun Valley Hydropower Development Company Limited has already passed via its 21st AGM. This capital will be invested in the Kabeli-B1 Cascade Hydropower Project. The entire rights offering will issue a total of 99,83,232 shares. Muktinath Capital Limited is appointed as the sale manager of the right share issue.