KATHMANDU

Joshi Hydropower Development Company Limited is going to issue rights shares. HydroPower has sought permission from the Securities Board of Nepal to issue 65% rights shares.

The company has announced that it will issue 24,14,100 shares at a ratio of 1:0.65. The company has stated that the further process will only move forward after obtaining permission from the board. Similarly, HydroPower has appointed Laxmi Capital as the sales manager for the issuance of the said shares.

Currently, the company’s paid-up capital is Rs 37,14,00,000, which will reach Rs 61,28,10,000 after the rights issue.