Ankhukhola Hydropower Company Limited (AKJCL) has received preliminary approval from the Electricity Regulatory Commission to issue a 1:1 rights offering.
The hydropower company proposed to issue 100% right shares on the paid-up capital of Rs. 2 Arba. After the adjustment of the proposed right shares, i.e., 2,00,00,000 units, the paid-up capital of the company will increase to Rs.4 arba.
The company is issuing the right shares to complete the construction of the hydropower project and to pay other outstanding construction-related expenses.
The company will issue the right shares to its shareholders only after the approval of SEBON. As of writing, AKJCL has an LTP of Rs. 338.00.
