Api Power Company Limited (API) is closing the issuance of its ongoing right shares with a ratio of 1:0.40 starting from today, which began on the 31st of Shrawan. Eligible investors are urged to apply for these right shares before the end of banking hours today.
Currently, the company has a paid-up capital of Rs. 4.13 Arba, and this will increase to Rs. 5.78 Arba after the proposed right share issue. In this new rights issue, the hydropower company will allocate shares at a ratio of 1:0.40, resulting in a total of 1 crore 65 lakh 33 thousand 137 right shares, each with a nominal value of Rs. 100.
The Securities Board of Nepal (SEBON) granted permission for the issuance of these right shares on Ashad 6, following the company’s formal application submitted on the 6th of Chaitra.
