Terhathum Power Company has extended the deadline for applying to its right shares. The company had issued 4 million units of right shares at a face value of Rs. 100 each, in a 1:1 ratio, starting from Ashar 16. This means existing shareholders could apply for one new share for every share they already own.
Originally, the deadline for applying was until Shrawan 4. However, since the company did not receive enough applications, the deadline has now been extended to Shrawan 11.
To be eligible for these right shares, investors must have owned the company’s shares by the end of trading on Jestha 4, as the book closure was set for Jestha 5.
Nepal Investment Banking Limited is managing the issuance and sale of the right shares. The Securities Board of Nepal (SEBON) had approved the right share issuance on Baisakh 19.
The company plans to use the funds raised from the right share to develop its 2 MW Khorunga Tangmaya Khola Hydropower Project and to invest in other profitable hydropower projects. Additionally, part of the amount will be used to repay bank loans.
