United Modi Hydropower Limited Receives Final Approval from ERC to Issue 100% Right Shares

Wed, Feb 7, 2024 10:55 AM on Latest, Dividend, Bonus & Rights,

The Electricity Regulatory Commission has given final approval to United Modi Hydropower Limited (UMHL) to issue the right shares in the ratio of 1: 1 for its shareholders.

The Board of Directors (BOD) meeting of the company held on Mangsir 13 has decided to issue 1:1 or 100% right shares. UMHL currently has 12,305,000 unit shares listed in the Nepal Stock Exchange (NEPSE) and maintains a paid-up capital of Rs. 1.23 Arba. After the issuance of 100% right shares, the paid-up capital will increase to Rs. 2.46 Arba.

However, the company will issue the right shares to its shareholders only after the approval of SEBON. UMHL closed at Rs. 284.00 yesterday.