API Power Company Limited (API) has initiated the sale of right shares, beginning today (Shrawan 31), which represents 40 percent of its current paid-up capital. The company’s plan involves offering 4 new shares for every 10 existing shares held. This means a total of 16,533,137 right shares will be available, each priced at Rs. 100.
To facilitate this right share issuance, the company recently completed its book closure on Ashad 22. Shareholders are now eligible to apply for these right shares until the 19th of Bhadra.