Kathmandu. Eastern Hydropower has received prior approval from the Electricity Regulatory Commission for the issuance of right shares.
The commission has given prior approval to Eastern Hydropower to issue right shares in the ratio of 1:0.871 of the current paid-up capital of Rs 62 crore. The company will now start the process of applying to the Securities Board of Nepal to issue a total of 5.4 million units of right shares of Rs 100 each.
The company had earlier sought approval from the commission to issue right shares in the ratio of 1:1 of the current paid-up capital. However, the commission has reduced the size of the right shares to the company in the ratio of 1:0.871.
