Ridi Hydropower 35% right share issuance from Ashad 1; Paid up capital to reach Rs 44.55 crore

Ridi Hydropower Development Company Limited (RHPC) has called on its existing shareholders to start applying for 10:3.5 (35%) right shares from Ashad 1, 2073. According to the notice published by the hydropower company today, the rights issue will remain open for 35 days before closing on Shrawan 4, 2073. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Jestha 14, 2073 would be eligible to apply for the right shares. Ridi Hydropower will be issuing a total 11, 55,000 unit right shares at the face value of Rs 100. Global IME Capital limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from Ridi hydropower Development Company located at Trade Tower, Thapathali as well as from Global IME Capital Limited located at Rastriya Nach Ghar, Jamal, Kathmandu. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 44.55 crore from the existing Rs 33 crore. The bank has authorized capital of Rs 50 crore. Its public-promoter share structure stand at 51:10:39 ratios. RHPC had earned net profit of Rs 37.14 lakh in the third quarter of the fiscal year 2072/73. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below average fundamentals to the proposed rights issue. Its last traded price stood (LTP) at Rs 434 as on May 26, 2016.