Right Shares of Ridi Power Company Added in SEBON Pipeline; Company to Issue 50% Right Share

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

The hydropower company is looking to issue 50% right shares worth Rs. 77.44 Crores through the issue of 7,744,506 (1: 0.50) units of right shares to its existing shareholders. The current paid-up capital of the company is Rs. 1.54 Arba. After the adjustment of the proposed right share, the paid-up capital of the company will increase to Rs. 2.32 Arba.

The hydropower company decided to issue 50% right shares so that the company could invest in the Tallo Balephi hydropower project of Sajha Power Development Company.

Muktinath Capital Limited is appointed as the issue manager.