Chhyangdi Hydropower has chosen BoK Capital Market as the issue manager for its upcoming issuance of right shares. The company plans to offer existing shareholders the opportunity to purchase additional shares in a 1:1 ratio, totaling approximately Rs 38.69 crore. This move aims to strengthen shareholder ownership and support the company’s growth in the hydropower sector.
Tag: right
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Arun Valley Hydropower Granted Approval to Issue 1:1 Right Shares for Shareholders
Arun Valley Hydropower Development Company Limited (AHPC) has received approval from the Electricity Regulatory Commission to issue right shares to its shareholders on a 1:1 basis. This means that each existing shareholder will have the opportunity to purchase one additional share for every share they currently hold.
The decision to issue right shares was proposed during a board of directors meeting. AHPC plans to offer a total of 18,679,626 right shares, with a par value of Rs. 100 each, amounting to a value of Rs. 1.86 Arba. Out of this, half of the funds raised, approximately Rs. 93.39 crore, will be invested in the Likhu Khola Hydropower Project (30 MW) developed by PK Hydropower Pvt. Ltd. The remaining amount will be used to repay a loan taken by AHPC for the Kabeli ‘B’-1 Cascade Hydropower Project in Panchthar.
However, it’s important to note that the issuance of the right shares is still pending final approval from the company’s Annual General Meeting (AGM) and the Securities Board of Nepal (SEBON), in addition to the endorsement received from the Electricity Regulatory Commission.
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Liberty Energy Company approves right shares and elects new board members during 13th AGM
Liberty Energy Company held its 13th Annual General Meeting on April 8th, 2023, with Mr. Kush Kumar Joshi as the chair. During the meeting, all financial reports from the previous fiscal year were approved. The meeting also endorsed a proposal to offer 50% of right shares, equivalent to Rs 75 crore, to existing shareholders. Additionally, the election of new board members was approved, including Dr. Aatma Ram Ghimire, Mr. Shyam Bahadur Khadka, Mr. Rajendra Wasti, Mr. Puruswotam Ghimire, and Ms. Kabita Pokharel from the promoter group. Mr. Lochan Koirala from the public group and Ms. Anugya Sapkota were elected as independent board directors.
Liberty Energy Company currently operates three projects, which are Upper Dordi A and Lodo Khola in Lamjung and Badighad Khola in Gulmi, as stated in the media statement.
Liberty Energy Company held its 13th Annual General Meeting, where financial reports from the previous fiscal year were approved. The company also approved the proposal to offer 50% of right shares worth Rs 75 crore to existing shareholders. Moreover, the meeting elected new board members, including five members from the promoter group and two independent board directors.
Lastly, the media statement indicated that Liberty Energy Company is operating three projects: Upper Dordi A and Lodo Khola in Lamjung and Badighad Khola in Gulmi.
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“National Hydro Power reports Q3 net loss of Rs. 2.29 Crores due to increased interest expenses; announces plans to issue 50% right shares”
In the third quarter (Q3) of the current fiscal year 2079/80, National Hydro Power Company Limited (NHPC) reported a net loss of Rs. 2.29 Crores, compared to a profit of Rs. 3.27 Crores in the corresponding quarter of the previous year. The company’s total revenue till the end of Q3 was Rs. 2.91 crores. However, NHPC’s administrative expenses declined by 6.97%, while financial expenses increased significantly by 125.40%, affecting the company’s profitability for this quarter.
NHPC’s reserves and surplus currently stand at Rs. 83.03 Lakhs, with share capital at Rs. 1.64 Arba. The hydropower company plans to issue 50% right shares worth Rs. 82.21 Crores to its existing shareholders, which will increase the paid-up capital to Rs. 2.46 Arba after approval by SEBON.
NHPC is also involved in the Lower Erkhuwa Hydropower Project in Bhojpur District, Province 1, which is expected to start generating 80 GWh of energy annually within 2023 and generate about N. Rs. 450 million in revenue. Additionally, the company is leading the study of the Likhu hydropower project, which is being promoted after concluding an agreement regarding holding of 75% shares in Bright Energy Solutions.
NHPC’s annualized earning per share is currently at Rs. -1.86, while the net worth per share is at Rs. 100.50. The company’s Q3 report shows a decrease in reserves and surplus by 75.90%, property, plant, and equipment (NET) increasing by 0.51%, and a decline in total income (power sales) by 19.41%. The Q3 market price for NHPC was at 239.
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“Ankhukhola Hydropower Plans to Issue 200% Right Shares Pending Approval from Electricity Regulatory Commission”
Ankhukhola Hydropower Company Limited (AKJCL) has proposed to issue 200% rights shares to its shareholders. The company aims to invest 60% of the newly raised capital in the Ganesh Himal Hydropower’s 20 M.W- Ankhu Khola-2 Hydropower project. This decision was made during a board of directors meeting held on Baishakh 15, 2079.
After the issuance of right shares at a ratio of 1:2, AKJCL’s paid-up capital will increase from Rs. 80 crores to Rs. 1.60 Arba. On Chaitra 23, 2079, a meeting was held where it was decided to invest 60% in the Ankhu Khola-2 Hydropower project. The investment agreement between the two companies was signed on Chaitra 24, 2079.
The Ankhu Khola-2 Hydropower project is designed to generate 122.16 GWh of electricity annually, based on a river flow rate of 27.73 cubic meters per second and a total head of 91 meters. The electricity produced will be transmitted to the national grid through a 5 km transmission line via the Nepal Electricity Authority’s proposed Lapang Substation.
AKJCL plans to invest the Rs. 96 crores received from legitimate shares in the Ganesh Himal Hydropower project. The remaining funds will be used to pay off loans and other obligations owed to banks and other financial organizations. However, the issuance of right shares will only occur after approval from the Electricity Regulatory Commission and endorsement by the company’s upcoming AGM.
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SSHL Plans to Issue 100% Right Shares to Shareholders
Shiva Shree Hydropower Limited (SSHL) has made an important decision to issue 100% right shares to its shareholders in a 1:1 ratio, according to a recent board of directors’ meeting held on 14th Baisakh, 2080. This move will increase the company’s current paid-up capital from Rs. 1.47 Arba to Rs. 2.95 Arba.
The primary objective of issuing the right shares is to pay back the bank debt. SSHL is preparing to issue rights after receiving approval from the Electricity Regulatory Commission and the subsequent Annual General Meeting. This is a significant development for SSHL, as it will not only help the company pay off its debts, but it will also increase its capital, giving it more financial flexibility to pursue future endeavors.
The decision to issue right shares is a common practice among companies, and it allows them to raise capital by offering existing shareholders the right to purchase additional shares at a discounted price. This not only benefits the company but also the shareholders, as it enables them to increase their stake in the company at a lower cost.
Overall, SSHL’s decision to issue 100% right shares is a positive move that will benefit both the company and its shareholders. The increased capital will give the company more financial flexibility to pursue its goals and pay off its debts, which is always a positive sign for any company.
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SEBON Approves 75% of Himal Dolakha Hydropower Right Shares; Company to Issue 1.20 Crore Right Shares Soon
The Securities Board of Nepal (SEBON) has accepted Himal Dolakha Hydropower Company Limited’s (HDHPC) rights selling proposal for Baisakh 12, 2080.
The hydroelectric business would issue 75% right shares at Rs. 1.20 Arba to its current shareholders in the form of 1,20,00,000 (1: 0.75) units of right shares. The company’s current paid-up capital is Rs. 1.60 Arba. As a result, following the issuance of the right share in the ratio of 1:0.75, the company’s paid-up capital would be increased to Rs. 2.8 Arba.
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Chhyangdi Hydropower Company Approves 100% Right Shares Offering
Chhyangdi Hydropower Company Limited (CHL) has scheduled its 9th Annual General Meeting (AGM) for the 28th of Baisakh, 2080. The conference would begin at 11 a.m. that day in Agrawal Bhawan, Kamalpokhari, Kathmandu.
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Arun Valley Hydropower seeks Electricity Regulatory Commission approval to issue 100% right shares.
Arun Valley Hydropower Development Company Limited (AHPC) intends to give its shareholders 100% rights shares.
The board of directors proposed at its meeting on Baisakh 06 to issue right shares in the ratio of 1:1, i.e. 18,679,626 right shares of Rs. 100 par value worth Rs 1.86 arba, so that the company can invest 50% of the issued right share amount, i.e. 93,39,813 unit right shares worth Rs 93.39 crore, in the Likhu Khola Hydropower Project (30 M.W.) promoted by PK Hydropower Pvt. The remaining 93,39,813 unit shares, valued at Rs 93.39 crore, will be utilized to repay the company’s loan for the Kabeli ‘B’-1 Cascade Hydropower Project in Panchthar.
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Ridi Power Company Receives Electricity Regulatory Commission Approval to Issue 50% Right Shares
The Electricity Regulatory Commission (ERC) has approved Ridi Power Company (RIDI) to issue a 1: 0.50 right offering.
The board of directors suggested on the 4th of Magh, 2079, to issue 50% right shares on the paid-up capital after adjusting 40% bonus shares for the fiscal year 2078/79, i.e. Rs. 1,54,89,01,200. The company’s paid-up capital will grow to Rs. 2.32 Arba following the adjustment of the proposed right share, i.e. 77,44,506 units. Furthermore, the ERC has granted the business permission to include the appropriate share-related topic in i
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Himalaya Urja Bikas Company Receives Electricity Regulatory Commission Approval to Issue 100% Right Shares
Himalaya Urja Bikas Company Limited (HURJA) has been granted permission by the Electricity Regulatory Commission (ERC) to issue rights shares to the general public.
The Electricity Regulatory Commission (ERC) has approved the distribution of right shares in a 1:1 ratio. The company proposed issuing right shares in a 1:2 ratio, or 200% of the company’s paid-up capital, at the board of directors meeting on Poush 05. The same agenda was approved at the company’s 22nd AGM, but it was subject to ERC approval. However, the board has now approved the issuance of the right shares in a 1:1 or 100% ratio rather than 1:2 or 200%.