Kathmandu. Khanikhola Hydropower Company Limited has opened the issue and sale of 100 percent right shares from Tuesday.

The company, which had earlier closed the book on July 17, has decided to give rights in the ratio of 1 to 1 to 1 to the shareholders who have been retained till July 30. Under this, the company has sold 4,657,143 units of right shares worth Rs 465.71 million.

The last date for applying for this right share is September 15. Citizens Capital Limited has taken the responsibility of sales manager. Investors can apply from various branches of Kumari Bank and Citizens Bank as well as ASBA member banks and financial institutions and ‘My Shares’ online.

At present, the paid-up capital of the company is Rs 465.7 million, which will double to Rs 931.4 million after the issue of rights. The money collected will be used to pay off debt, reduce interest costs, strengthen financial position and increase equity, the company said.