Last day to apply for right share of Api Power Company, Ratio 1:0.40

Api Power Company Limited (API) is currently in the process of selling right shares to its shareholders. The company is issuing these right shares in the ratio of 1:0.40, starting from Shrawan 31, 2080 BS. This essentially means that shareholders with 100 shares can apply for an additional 40 right shares.

The offering for these right shares will remain open until Bhadra 19, 2080 BS. To determine eligibility, the company set the book closure date on Ashad 22, 2080 BS. This means that investors purchasing API shares until Ashad 21, 2080 BS, are eligible to apply for these right shares.

The regulatory body, the Securities Board of Nepal (SEBON), granted permission to API on Ashad 6, 2080 BS, to proceed with this right share offering. The company had initially submitted its application to SEBON on Chaitra 6, 2079 BS, seeking approval to float these shares.

API plans to issue 1,65,33,137 units of right shares, amounting to Rs. 1.65 Arba (which is 40 percent of the company's total capital of Rs. 4.13 Arba).

Muktinath Capital Limited has been appointed as the issue and sales manager for this right offering.

Upon the completion of this right issue, API's paid-up capital will increase from Rs. 4.13 Arba to Rs. 5.78 Arba. The company has announced its intention to utilize the proceeds from the right offering to pay off loans worth Rs. 1.68 Arba.

To wrap up, API Power Company Limited is concluding the issuance of its 1:0.40 ratio right shares on the 19th of Bhadra, 2080. The offering began on the 31st of Shrawan, and eligible investors are urged to apply for these right shares before the close of banking hours today.

The current paid-up capital of the company stands at Rs. 4.13 Arba, and with this new right issue, it will increase to Rs. 5.78 Arba. Under the terms of the right issue, API will distribute a total of 1,65,33,137 right shares, each with a nominal value of Rs. 100.

The Securities Board of Nepal (SEBON) granted permission for this right share issuance on Ashad 6, following the company's formal application submitted on Chaitra 6.

Laxmi Capital Markets Limited has been appointed as the issue manager for this right share offering.

Right Share History Of API Power company: