SEBON Approves Arun Kabeli Hydropower's Proposal for 100% Right Share Distribution

Arun Kabeli Hydropower's (AKPL) proposal to distribute 100% rights shares to its shareholders has been approved by the Securities Board of Nepal (SEBON).

As per the notice issued by SEBON on Wednesday, it stated that the proposal of Arun Kabeli Hydropower to issue 18,552,105 unit rights shares with Nabil Investment Banking Limited as the issue manager for the issuance has been approved by SEBON. Following the approval, the company can now release a notice for right share applications in line with the existing laws.

In the same manner, SEBON has also requested the company and its issue manager to fulfil all criteria and guidelines as specified by the existing laws with regard to the same.

After the issue of 100% right shares worth Rs. 1.85 Arba through the issue of 18,552,105 (1:1) unit shares to its existing shareholders, the paid-up capital of the company will increase to Rs. 3.89 Arba. The current paid-up capital of AKPL after the adjustment of 10% bonus shares for FY 2078/79 is Rs. 2.04 Arba.

Arun Kabeli Power Limited (AKPL) was incorporated on January 17, 2011, under the Company Act of Nepal, 2063. It is a part of the Arun Valley Hydropower Group and has been established as an SPV for the construction and operation of 25 MW Kabeli B1 HEP. The company is promoted by Arun Valley Hydropower (~24% shareholding) and Api Power Limited (~3% shareholding).