Issue Manager for Arun Kabeli Power Limited (AKPLRights )’s Offering has been appointed. Issue Manager for Arun Kabeli Power Limited (AKPLRights )’s Offering has been appointed.
Arun Kabeli Power Limited has announced that Nabil Investment Banking Limited has been designated as the issue manager for the rights offering (AKPL).
The company’s 11th Annual General Meeting (AGM), held on 26th Bhadra, 2078, approved a 17.89 percent dividend for the fiscal year 2077/78, consisting of 17 percent in bonus shares and 0.89 percent in cash dividends for tax purposes, for the fiscal year 2077/78. Apart from that, the AGM also agreed to provide an additional right share of one for every one share of paid-up capital that remains after bonus shares have been adjusted.
After the AGM, the firm released a media statement in which it stated that the funds raised through the rights issue will be used to pay down the company’s outstanding bank debt, allowing the company to pay out a larger dividend in the future.