Kathmandu, Jan 29
Butwal Power Company Limited has announced book closure for its 3:2 rights shares which was approved by the company three years ago.
The process of the rights issuance was, however delayed because of the uncertainties stemming from the dispute between the company and the government over the nature of investment.
After getting a green light from SEBON , a meeting of company’s BoD held on January 12 had decided to announce book closure on February 5, 2014.
Issuing a notice today, BPC has clarified that only those shareholders who apply for the rights shares a day before the book closure date, or by February 4, would be eligible for the rights shares.
NMB Capital Limited will be the issue manager as it is the RTS.
BPCL is issuing the rights shares to generate funds for investing in the 37.6 MW Kabeli A Hydropower Project.
BPCL plans to invest Rs 1 arba on the Kabeli project. The company plans to raise Rs 66 crore through rights shares and seek loans for the remaining amount.
While Shangrila Energy has 68.95% stake in the company, the remaining stakes are owned by Intercraft (6.05%), government (9.09%), general public (10%), employees (2), NEA (1.06%) and Nepal Industrial Development Corporation (0.06%).
Butwal Power Company Limited has announced book closure for its 3:2 rights shares which was approved by the company three years ago.
The process of the rights issuance was, however delayed because of the uncertainties stemming from the dispute between the company and the government over the nature of investment.
After getting a green light from SEBON , a meeting of company’s BoD held on January 12 had decided to announce book closure on February 5, 2014.
Issuing a notice today, BPC has clarified that only those shareholders who apply for the rights shares a day before the book closure date, or by February 4, would be eligible for the rights shares.
NMB Capital Limited will be the issue manager as it is the RTS.
BPCL is issuing the rights shares to generate funds for investing in the 37.6 MW Kabeli A Hydropower Project.
BPCL plans to invest Rs 1 arba on the Kabeli project. The company plans to raise Rs 66 crore through rights shares and seek loans for the remaining amount.
While Shangrila Energy has 68.95% stake in the company, the remaining stakes are owned by Intercraft (6.05%), government (9.09%), general public (10%), employees (2), NEA (1.06%) and Nepal Industrial Development Corporation (0.06%).
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