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Wednesday, October 27, 2021
    Nepal Stock ExchangeRight | Bonus | DividendThe Api Power Company has received preliminary approval to issue 1,08,60,000 right...

    The Api Power Company has received preliminary approval to issue 1,08,60,000 right shares in the company’s common stock.

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    According to the Regulatory Commission, Api Power Company Limited has received clearance for the issuance of 1,08,60,000 right shares.

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

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    Construction on a 40-megawatt Upper Chamelia project is now underway, and the business is developing a 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 to expand it to a 62.5 MW project by the end of the year, generating additional revenue streams for the company’s expansion and development.

    API currently has an LTP of Rs. 443 as of the of writing.

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