Friday, November 19, 2021
    Nepal Stock ExchangeRight | Bonus | DividendThe Api Power Company (API) and Nepal Finance (NFS) have proposed to...

    The Api Power Company (API) and Nepal Finance (NFS) have proposed to issue right shares

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    An application for the issuance of 1,08,60,000 right shares has been submitted the regulatory board SEBON Api Power Company Limited (API).

    The proposal of a 1: 0.3936 rights offering on the paid-up capital retained after the adjustment of bonus shares was approved the company’s 18th Annual General Meeting, which was held on 25th Bhadra, 2078. After bonus adjustments, the paid-up capital amounts Rs. 275.89 crores. As a result, a total of 1,086,00 shares will be distributed.

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    Muktinath Capital has been selected as the issue manager for this transaction. The application was filed SEBON on Ashoj 25, according to the calendar.

    Construction on a 40-megawatt Upper Chamelia project is now underway, and the business is also developing a number of smaller-scale solar projects in various parts of the country. Api Power Company has already completed the construction of the 4 MW Chandrapur Solar Project and plans expand it to a 62.5 MW project the end of the year, generating additional revenue streams for the company’s expansion and development.

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    In a similar vein, Nepal Finance Limited (NFS) has submitted its application issue 1:0.7 right shares to shareholders.

    The financial business intends issue 70 percent of its right shares, which are valued at Rs 49.34 crores, out of its paid-up capital. This translates to 34,54,474.28 shares of common stock. The company’s paid-up value will increase Rs 83.89 crore as a result of the issue.

    It has been decided to appoint Prabhu Capital as the issue manager. The application was submitted to SEBON on Karik 01, according to the company.

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