Eastern Hydropower issues 1.24 million IPO
Eastern Hydropower is going to issue 1.24 million ordinary shares (IPO).Hydropower is about to issue an IPO worth Rs 124 million. The company is constructing Irkhuwa Khola HPP and Pikhuwa Khola projects.
The company has moved ahead with the project to generate 14.1 MW and 5 MW of hydropower. The company has appointed NMB Capital as the manager to issue the IPO.
To distribute dividend by HIDCL which has given 100 entitlements :Hydroelectricity Investment and Development (HIDCL) Company has fixed the date of General Assembly and Book Clause.
The company which has given 100 percent rights has also fixed the date of book closing for the distribution of dividend.
The company, which has fixed the date of the next general meeting on December 7, is going to close the share capital registration book on January 25. The company is passing a resolution at the general meeting to pay 8 percent bonus share and 0.42 percent cash dividend.
Also, last year’s general meeting passed a resolution giving rights and went to the Securities and Exchange Board for permission. The company will issue the rights as soon as it gets permission.
One hundred billion right shares of a dozen companies are coming:Right shares of various companies worth Rs 1.18 billion are coming.
More than a dozen companies have applied for the right shares. Due to some delay in the appointment of the head of the Nepal Securities Board, it has taken time for the rightful application to be approved.
However, within a few months, 118.98 million shares are about to come in the market. Among them, insurance companies, development banks, finance companies and hydro companies are in the final stages of preparing to give shares to the shareholders.
Shikhar Insurance Company is also among the applicants. He has applied for Rs. 527.5 million by giving 3 lots equal to 10 lots.
How much for which company?