1,10,63,580 Additional Shares Obtained After Merger Listed Under Ridi Power Company

Sun, Aug 14, 2022 4:14 PM on Latest, Share Listed, Merger/Acquistion,

1,10,63,580 additional shares of Ridi Power Company Limited (RIDI) have now been listed in NEPSE.

Ridi Hydropower Development Company Limited (RHPC) and Rairang Hydropower Development Company Limited (RRHP) agreed to become one at the swap ratio of 1:0.93. Thus, the additional shares after the merger are now listed in NEPSE. RHPC total listed shares were 5,855,580 units whereas RRHP had 5,600,000 units listed shares.

A memorandum of understanding (MoU) was signed on Kartik 17, 2078 regarding the merger between both the institution. The companies were given final approval for joint transaction by Electricity Regulatory Commission and by the Office of Company Registrar on Ashad 30. After the merger of these companies, the total joint paid-up capital has reached to Rs. 1.106 Arba.

The open price range is set at Rs. 708.60 for the first transaction of the company.