“Himalaya Urja Bikas Company (HURJA) Proposes 1:2 Right Shares Issuance

Himalaya Urja Bikas Company (HURJA), a hydropower company in Nepal, has proposed to issue right shares in the ratio of 1:2. The move is aimed at raising funds to pay off the long-term loans taken by the company from banks.

The meeting of the board of directors of Himalaya Urja Bikas Company (HURJA) held on 27 January, 2023 has proposed to issue Right Shares at the ratio of 1:2

The proposed right shares issuance needs approval from the Electricity Regulatory Commission, which is the regulatory body overseeing the power sector in the country. If approved, the right shares will be offered to the existing shareholders of HURJA, who will have the right to purchase additional shares at a discount.

The company’s management believes that the proposed right shares issuance will help it meet its financial obligations and strengthen its balance sheet. The funds raised will be used to repay the long-term loans, which will help the company reduce its debt burden and improve its financial stability.

HURJA’s proposed right shares issuance is a significant step in the company’s efforts to strengthen its financial position and ensure long-term growth and stability. The outcome of the proposal is expected to have a significant impact on the company and its shareholders.”