Kathmandu. KATHMANDU: Singati Hydro Energy Company Limited (SUNG) has decided to issue 100% right shares of its paid-up capital after distributing bonus shares from the profit of the last fiscal year.

The company had announced to distribute 5 percent bonus shares to its shareholders from the profit of the last fiscal year. The meeting of the Board of Directors of the company held on November 24 has decided to issue right shares in the ratio of 1:1 of the paid-up capital to be maintained after the issuance of bonus shares.

The meeting also decided that the amount collected from the right issue would be used to repay the company’s debt. The proposal will also be tabled in the upcoming Annual General Meeting.