Kathmandu. Shivashree Hydropower Company Limited is going to open the issue and sale of right shares from September 15. The company is issuing 100 percent of the current paid-up capital i.e. the right shares in the ratio of 1 unit of new shares equivalent to the existing one unit share.
Accordingly, the company will issue 14.76 million units of right shares worth Rs 1.47 billion with face value of Rs 100 per share.
The company had closed the book for the purpose of issuing the right shares on July 15. According to this, the shareholders who have been traded in NEPSE till July 15 can apply for the right shares. Applications can be made for the right shares of the company till October 30.
Infomerics Credit Rating Nepal has given iRN single B minus issuer rating to the company. This indicates that there is a high risk in the ability to bear financial obligations on time.
Citizens Capital Limited is the issue manager of the company.
Investors can apply from citizen bank international’s Kumaripati, Thimi, Biratnagar, Birtamod, Birgunj, Surkhet, Janakpur, Nepalgunj, Narayangadh, Dhangadhi, Pokhara, Butwal and Hetauda branch offices. 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 by CDS and Clearing Limited online.
