The regulatory board SEBON has sent a letter to Nepal Rastra Bank regarding the postponed auction of HIDCL. The board sent a letter requesting for the central bank’s clarification on whether HIDCL should follow the rules set forth for promoter shares of financial institutions since the bank effectively recognized the investment company as one via a recent notice.
Hydroelectricity Investment and Development Company Limited (HIDCL) recently postponed the auction of its promoter right shares on SEBON’s instruction. The company had been auctioning its promoter right shares from Falgun 01. The auction was supposed to conclude on Falgun 15, 2078.
Earlier, the company concluded the 1:1 ratio right shares issue on…
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