Barun Hydropower Gets Approval To Issue Right Shares In the Ratio of 1:1

Barun Hydropower Company Limited (BARUN) has received the regulatory board SEBON's approval to issue 1:1 right shares.

The company will now issue 100% right shares to the eligible shareholders at par value of Rs. 100 out of its paid-up value of Rs 26.79 crores. This equates to 2,679,075 shares. Following the approval from Electricity Commission, the company placed the application to the Securities Exchange Board of Nepal (SEBON) for the right issue, and on 15th Asad, 2079 SEBON approved the rights issue of 1:1.

The current paid-up capital of the company stands at Rs. 26.79 Crore which will increase to Rs. 53.58 Crore after the adjustment of the right shares.

RBB Merchant Banking Limited has been appointed the issue manager of this right share.