Kathmandu, Nov 30: The United Modi Hydropower has proposed to issue right shares in the ratio of 1:1 or 100% right shares.
The meeting of the board of directors held on November 13 has decided to issue the 100% right shares on the paid-up capital of Rs. 1.23 Arba to invest in its hydropower projects. Hence, after the issue of 12,305,000 units of right shares, the paid-up capital of the company will increase to Rs. 2.46 Arba.
However, the proposal will be applicable after approval from regulatory bodies as Electricity Regulatory Commission and the Securities Board of Nepal (SEBON), and subsequent endorsement at the company’s upcoming Annual General Meeting (AGM).
The Company’s share price remains at Rs. 184 on Thursday morning.
