The company obtained approval to issue 1:1 right share to its existing shareholders. Accordingly, it will issue 3,869,775 units of right shares at a face value of Rs 100.
The company closed its book on May 16 for the right issue thus, the shareholders registered in its book till May 15 will be eligible to apply for the right share.
ICRA Nepal assigned B- rating to the issuer indicating high risks.
The company has appointed Global IME Capital as issue manager. Interested existing shareholders can apply from the issuer manager and Besishahar, Sundarbazar-6, Bhorletar-8, Buspark, Siuedibar Sundarbazar-9, Udipur and Dordi branch of Global IME Bank. Similarly, they can apply from all C-ASBA approved BFIs and Meroshare.
The company has paid-up capital of Rs 386.9 million which will reach Rs 773.9 million after the right issue.
