Modi Energy Limited has received pre-approval from the Department of Electricity Development for the issuance of rights shares. The company is preparing to issue rights shares at a ratio of 1:0.90029, equivalent to 90.029% of its current paid-up capital.
The company informed the Nepal Stock Exchange (NEPSE) today (Thursday) through an official letter that it has received pre-approval from the regulatory authority for the rights share issuance. According to the letter, the Department of Electricity Development granted the pre-approval on Magh 21, 2082 B.S.
Following the pre-approval, the company will now proceed with the process of applying to the Securities Board of Nepal (SEBON) for final approval to issue the rights shares. Earlier, a board of directors meeting held on Shrawan 30, 2082 B.S. had decided to issue rights shares at a 1:1 ratio based on the existing paid-up capital.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team
