Kathmandu, Jestha 7, 2081 – Buddha Bhumi Hydro Power Company Limited has received approval from the Electricity Regulatory Commission (ERC) to present a proposal for issuing rights shares at its upcoming annual general meeting (AGM).
In accordance with the “Directives for Pre-Approval and Regulation of Public Issuance of Shares by Electricity-Related Companies, 2078”, Buddha Bhumi Hydro Power had submitted the necessary documentation to the ERC on Baisakh 20, 2081. Following this, the ERC granted its consent on Jestha 2, 2081, allowing the company to propose the issuance of rights shares to its shareholders.
The company plans to issue 150% rights shares on its existing paid-up capital of NPR 40 crores. This translates to a 1:1 rights share issuance, which will be put forward for approval at the AGM.
The decision to seek this approval stems from the company’s goal to raise additional capital for the 4.993 MW Lower Tadi Khola Hydroelectric Project. The proposal and ERC’s approval are significant steps towards ensuring the project’s smooth progress and financial stability.
For further information, stakeholders and interested parties can refer to the company’s notification to the Nepal Stock Exchange (NEPSE) and the Securities Board of Nepal (SEBON).
Contact Information:
LTP: NPR 610.00
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