Kathmandu: Barun Hydropower Company Limited has received permission from the Securities Board of Nepal (SEBON) to issue right shares to its existing shareholders. The company plans to issue the shares in a 1:1 ratio, meaning shareholders can buy one new share for every one they already own.
In total, the company will issue 5,358,150 right shares, each priced at NPR 100. This move will help the company double its current capital from NPR 535.8 million to around NPR 1.07 billion.
The money raised through this right share will be used to strengthen the company’s financial position and help fund ongoing and future hydropower projects. As Nepal continues to focus more on clean and sustainable energy, companies like Barun Hydropower are looking to invest in expanding their capacity.
Barun Hydropower will soon announce the date and process for shareholders to apply for the right shares.