Reminder: Last Day to Apply for 50% right shares of Arun Valley Hydropower Development Company Limited (AHPC)
Sun, May 16, 2021 6:39 AM on Dividend, Bonus & Rights, Stock Market, Latest,
Eligible investors have only one day (today) left to apply for the right shares of Arun Valley Hydropower Development Company Limited (AHPC).
The company has opened its rights offering from 6th Baisakh, 2078. The issue was supposed to close on Baisakh 26th. However, the meeting of the board of directors decided to extend the auction deadline on account of unfavorable conditions created by the pandemic. The issue now closes today i.e. Jestha 02.
The rights offering is in a 1:0.5 structure, i.e. investors can apply for an extra share for every two shares that they own before the book closure date. A total of 52,41,197 shares have been issued at Rs. 100 per unit to eligible investors. Muktinath Capital is appointed the issue manager for this right shares issue.
Chaitra 09 was the book closure date for the rights offering. Thus, investors maintained before that day are entitled to apply for the rights offering.
This is the first phase issue of the 1:1 right shares issue that Arun Valley Hydropower Development Company Limited has already passed via its 21st AGM. This capital will be invested in the Kabeli-B1 Cascade Hydropower Project. The entire rights offering will issue a total of 99,83,232 shares.
