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Tuesday, October 26, 2021
    Nepal Stock ExchangeRight | Bonus | DividendAfter a 30% rights offering, Chhyangdi Hydropower (CHL) proposes issuing an additional...

    After a 30% rights offering, Chhyangdi Hydropower (CHL) proposes issuing an additional 40% of rights

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    After already- 30 percent right shares, Chhyangdi Hydropower Company Limited (CHL) has proposed issuing 40 percent right shares on the paid-up capital.

    On Poush 29, 2076, the 6th Annual General Meeting (AGM) approved a 30 percent right share on the paid-up capital of Rs. 28.35 crores. SEBON, the regulatory board, is currently reviewing the idea.

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    Hydropower businesses can issue right shares complete the remaining construction work of a project if it can’t be completed with original resources, according to the Authority’s flexible policy on rights issuance. Due uncontrolled conditions, the cost of project building must risen beyond the company’s ability to sustain. Natural catastrophes, epidemics, wars, internal rebellions, shutdowns, strikes, blockades, and other uncontrollable all generate a shortage of labour and resources.

    Chhyangdi Hydropower Company Limited (CHL) has proposed an additional 40 percent rights issuance on the paid-up capital after the already- 30 percent right shares, based on the same provision. The company claims that the extra capital is required compensate for the increased cost of development of the Upper Chhandi Khola Small Hydropower Project 4MW as a result of the pandemic and floods.

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    After the 30 percent rights issuance, the company’s paid-up capital will be Rs. 38,69,77,500. Following this adjustment, the 40% right shares will be issued on this capital, bringing the total paid-up capital Rs. 54,17,68,500.

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