Extension of deadline to apply for HIDCL rights

Extension of deadline to apply for HIDCL rights

Hydroelectricity Investment and Development Company Limited (HIDCL) has extended the deadline to apply for the right shares from July 5. Applications for 100% of the company’s shares can now be submitted till September 25.

The company has rightfully disposed of 110 million shares equal to Rs 11 billion at a face value of Rs 100.

The company had canceled the book filing on June 11 for the rightful eviction. Accordingly, only the shareholders of the company who have been traded on Nepse till June 10 will be able to apply for the rights.

Global IME Capital Limited is the sales manager of the company. Applications for the rights can be made from the designated branch offices of Global IME Capital, Global IME Bank. In addition, banks and financial institutions that have received assurance from the Securities and Exchange Board will be able to apply through Alva Meroshare software.

Credit rating agency Care Rating Nepal has given the company a Care NP single A minus IS rating. This indicates adequate assurance of regular payment of financial obligations and low credit risk.

The company’s paid-up capital, which is currently Rs 11 billion, will reach Rs 22 billion after the rightful disposal and distribution.

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