Right Shares of Api Power Company in SEBON Pipeline; Company to Issue 40% Right Share Soon

Securities Exchange Board of Nepal (SEBON) has added the right shares of Api Power Company Limited (API) to its pipeline under preliminary review.

The hydropower company is looking to issue 40% right shares worth Rs. 1.65 Arba through the issue of 16,533,137 (1:0.40) units of right shares to its existing shareholders. The current paid-up capital of API after the adjustment of 7.5% bonus shares is Rs. 4.13 Arba. Hence, after the issue of the right share in the ratio of 1:0.40, the paid-up capital of the company will be increased to Rs. 5.78 Arba.

Muktinath Capital is appointed as the issue manager. The application was submitted to the board on Chaitra 06, 2079.

Api Power Company Pvt. Ltd was established in B.S. 5th Ashad, 2060 (19th June 2003) under "The Company Act, 2053". The company was converted into a Public Limited company on B.S. 6th Shrawan 2070 (21st July 2013). The main objective of the company is to generate electricity through the utilization of water and renewable resources abundantly available in the country in solving our everlasting energy crisis. The company has its Corporate Office located on the 4th Floor, Trade Tower Nepal, Thapathali, Kathmandu.