Kathmandu. Barun Hydropower Company can apply for the right shares sold from July 15 to July 30. The company has issued 100 percent of the current paid-up capital i.e. 1 unit of right shares equal to the existing one unit share of the company.
Accordingly, the company will issue 5,358,150 units of right shares with a face value of Rs 100 per share worth Rs 535.81 million.
The company had closed the book for the purpose of issuing the right shares on June 15. According to this, the shareholders who have been traded in NEPSE till June 15 can apply for the right shares.
RBB Merchant Banking Limited is the issue manager of the company. Investors can apply from birgunj, Janakpur, Narayangadh, Baglung, Butwal, Nepalgunj, Birendranagar, Dhangadhi, Birtamod, Hetauda, Tulsipur, Mahendranagar, Chainpur, Khandbari and Dharan branch offices of Rastriya Banijya Bank.
Similarly, banks and financial institutions participating in the C-ASBA service licensed by the Securities Board of Nepal can also apply online using the C-ASBA system and the software ‘Mero Share’ developed from CDS and Clearing Limited online.
Care Rating Nepal has given careap double B issuer rating to the company in the rating made for the right issue. This indicates that there is a high risk in the ability to bear financial obligations on time.
At present, the paid-up capital of the company stands at Rs 535.8million. After the issue and allotment, the paid-up capital of the company will reach Rs 1.07 billion.
