Kathmandu. Supermai Hydropower Company has received prior approval from the Electricity Regulatory Commission to issue right shares. The company has received prior approval to issue right shares in the ratio of 0.9252 to 1.

Accordingly, the company will issue 59,40,000 units of right shares at a face value of Rs 100 per share.

The 11th Annual General Meeting (AGM) of the company had approved the decision to issue right shares at the ratio of 1:1 ratio and had applied to the commission for prior approval.

The proceeds from the right share issuance will be used by the company to repay the debt of Nabil Bank.