Right Shares of Arun Kabeli Hydropower Added in SEBON Pipeline; Company to Issue Massive 100% Right Share

Securities Exchange Board of Nepal (SEBON) has added right shares of Arun Kabeli Hydropower (AKPL) to its pipeline under preliminary review, worth a total of Rs. 1.85 Arba.

The hydropower company is looking to issue 100% right shares worth Rs. 1.85 Arba through issue of 18,552,105 (1:1) units right shares to its existing shareholders. The company's paid-up capital had increased to Rs. 1.85 Arba following the distribution of the 17% bonus shares for FY 2077/78.

Therefore, the company's share capital would rise to Rs. 3.7 Arba after issuing rights shares at a ratio of 1:1 from its current share capital of Rs. 1.85 Arba as of the fourth quarter of FY 78/79.

Nabil Investment Banking is appointed as the issue manager.

Arun Kabeli Power Limited (AKPL) was incorporated on January 17, 2011, under Company Act of Nepal, 2063. It is a part of the Arun Valley Hydropower Group and has been established as an SPV for the construction and operation of 25 MW Kabeli B1 HEP.The company is promoted by Arun Valley Hydropower (~24% shareholding) and Api Power Limited (~3% shareholding).