Nepal Warehousing Company Limited (NWCL) has announced plans to issue 100% right shares, according to a decision made at the Board of Directors meeting on Ashwin 14. The company aims to issue right shares in a 1:1 ratio, effectively doubling its paid-up capital.
Currently, NWCL has a paid-up capital of Rs. 68.75 Crore. The proposed issuance of 6,875,000 units of right shares will increase the company’s capital to Rs. 1.37 Arba. This capital raise is intended to fund the company’s investments in hydropower projects.
However, the right share issuance is subject to regulatory approvals and endorsement at NWCL’s upcoming Annual General Meeting (AGM).
As of the previous trading day, NWCL’s stock closed at Rs. 890.00.
