Last Trading Day to Qualify for Share Allotment on NEPSE
Investors have today as the last trading day to qualify for Himalayan Power Partner’s 50% rights issue worth Rs. 53.27 crore.
Today marks the final trading day on the Nepal Stock Exchange (NEPSE) for investors to qualify for the upcoming rights issue of Himalayan Power Partner Limited (HPPL).
The company is issuing a 50% rights offering, equivalent to 15,981,255 shares (1:0.50 ratio), valued at approximately Rs. 53.27 crore. This offering is exclusively available to existing shareholders, allowing them to maintain their ownership stake by subscribing to additional shares.
HPPL currently has a paid-up capital of Rs. 1.06 billion. Following the full issuance and adjustment of the proposed rights shares, the company’s paid-up capital is expected to increase to Rs. 1.59 billion, strengthening its equity base and supporting future expansion plans.
Global IME Capital Limited has been appointed as the issue manager for the rights offering, overseeing the issuance and subscription process.
The book closure date for this rights issue has been set for Chaitra 10, 2082. Investors who held shares before this date are eligible to apply for the rights shares. Those who purchase shares on or after the book closure date will not be eligible for this offering.
Rights issues are a common mechanism for listed companies in Nepal to raise capital while giving existing shareholders the opportunity to avoid dilution of their ownership.