The Electricity Regulatory Commission has given final approval to Buddha Bhumi Nepal Hydropower Company Limited (BNHC) to issue right shares to its shareholders at a 1:1 ratio. This decision was made during a board of directors meeting on Poush 20, 2080. Initially, the board had proposed a 150% right share issue on the paid-up capital of Rs. 40 Crore, but the commission has authorized the issuance of 100% right shares instead.
With the issuance of these 40,00,000 right shares, BNHC’s paid-up capital will increase from Rs. 40 Crore to Rs. 80 Crore. However, this right share issuance is subject to approval from the Securities Board of Nepal (SEBON).
As of the latest trading session, BNHC shares closed at Rs. 601.70.