TheElectricityRegulatoryCommissionhasgivenpreliminaryapprovaltoApiPowerCompanyLimited(API)toissue16,533,137unitsofrightshares.
OnFebruary2,theboardofdirectorsproposedissuing40%ofthepaid-upcapitalinrightshares.
Afteradjustingfor7.5%bonusshares,thecompany’spaid-upcapitalwillbeRs.4.13Arba.
Asaresultofthe1:0.40(40%rightsissue),thecompany’spaid-upcapitalwillbeincreasedtoRs.5.78Arba.
Thecompanyproposedissuingtherightsharestopayoffthedebtoftheprojectsthatitisproducing.
Highlights:
- The ERC has given preliminary approval to Synergy Power Development Company to issue 50% rights.
- Chhyangdi Hydropower Company Limited has changed the right share rates from 150% to 100%.
- Balephi Hydropower suggests issuing right shares in a 1:0.50 ratio.
- Api Power Company Right Shares in SEBON Pipeline; Company to Issue 40% Right Share Soon
- Ridi Power Company Receives Electricity Regulatory Commission Approval to Issue 50% Right Shares