Ankhukhola Hydropower Company (AKJCL) to Issue Right Share

Ankhukhola Hydropower Company (AKJCL) has submitted an application to issue 150 percent right shares to its shareholders. If approved by SEBON, AKJCL will issue right shares to its shareholders in the ratio 1:1.5 to raise Rs. 120 crores for the construction of 20 MW Ankhu Khola-2 Hydroelectric Project.

Highlights of AKJCL Right Shares Offering

Application to issue right share was submitted to SEBON on 21 Bhadra, 2080 after it received the approval from Electricity Regulatory Commission of Nepal.
AKJCL plans to issue right shares at Rs. 100 per share, where shareholders having 100 shares can apply for 150 unit right shares.
The current paid-up capital of the company stands at Rs. 80 crores which will be become Rs. 2 billion if the right share is issued.
Nabil Investment Banking has been appointed as the issue manager for the issuance of right shares.
The main reason behind the proposal to issue right share is to raise funds for the construction of 20 MW Ankhu Khola-2 Hydroelectric Project that is located at Dhading district, Nepal. Some amount will also be used to pay off debts to financial institutions.
Its one of the much awaited upcoming right share in Nepal among the investors.

About Ankhukhola Hydropower Company

Ankhukhola Hydropower Company operates 8.04 MW hydropower project located at Dhading District close to 132 km from Kathmandu, Nepal. The company maintains a promoter shareholding of 75% and the remaining 25% of the shares are held by the public shareholders. Ankhukhola Hydropower Company currently has 80 lakh unit shares listed in Nepal Stock Exchange ( NEPSE) and is traded as AKJCL.