Kathmandu. Sagarmatha Hydropower Company has agreed to issue right shares.
The Electricity Regulatory Commission (ERC) sent a letter to Sagarmatha Hydropower Company on Tuesday giving its consent to issue right shares.
The company is preparing to bring 100 percent rights in the ratio of 1:1 of the current paid-up capital of Rs 1.17 billion. For this, the company had filed an application with the Electricity Regulatory Commission seeking approval.
Earlier, the Commission had approved the proposal to issue right shares to the company on June 27 last year to submit its annual general meeting.
Now the company will apply to the Securities Board of Nepal seeking permission to issue right shares worth Rs 1.17 billion to its shareholders.
