Kathmandu. River Falls Power Limited is going to open the issue and sale of right shares from September 15. The company is issuing 100 percent right shares of the current paid-up capital.
That is, the company is going to issue right shares in the ratio of 1 unit of new share equal to the existing 1 unit share. Accordingly, the company will issue 7 million units of right shares with face value of Rs 100 per share worth Rs 700 million.
The company had closed the book for the purpose of issuing the right shares on August 15. According to this, the shareholders who have been traded in NEPSE till August 15 can apply for the right shares. Applications can be made for the right shares of the company till October 30.
Care Rating Nepal has given careNP double B minus issuer rating to the company. This indicates that there is moderate risk in the ability to bear financial obligations on time.
Prabhu Capital Limited is the issue manager of the company. The investors can apply from prabhu bank’s beshisahar(Lamjung), Pokhara, Birgunj, Ilam, Butwal, Surkhet and Dhangadhi 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.
At present, the paid-up capital of the company stands at Rs 700 million. After the issue and allotment, the paid-up capital of the company will reach Rs 1.4 0 billion.
