Electricity Regulatory Commission (ERC) Approves 100% Right Shares Issuance for United Modi Hydropower Limited (UMHL)
The Electricity Regulatory Commission has granted final approval to United Modi Hydropower Limited (UMHL) for the issuance of right shares at a 1:1 ratio for its shareholders. Now, the distribution of right shares to shareholders by UMHL relies on the approval of the Securities Board of Nepal (SEBON).
In a meeting of Board of Directors (BOD) held on 29 November, 2023, United Modi Hydropower Limited (UMHL) decided to issue 100 percent right shares to its shareholders. Regulatory body of hydropower companies ERC granted approval on 5 February , 2024 for the issuance of right shares.
UMHL has 12,305,000 units shares listed in Nepal Stock Exchange (NEPSE) and will issue the same number of right shares if approved by SEBON. After the issuance of 100 percent right shares, the paid-up capital of UMHL will increase to Rs. 2.46 billion.
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