People’s Power Announces Share Price Adjustment Ahead of Rights Issue

People’s Power Limited has recently undergone a share price adjustment in preparation for its upcoming rights share offering. The company is set to issue rights shares at a ratio of 1:0.50, which has led to the recalibration of its share price on the Nepal Stock Exchange (NEPSE).

Following the adjustment, the share price of People’s Power has been set at NPR 361.13 per share, down from the previous price of NPR 491.70 per share before the adjustment. Trading of the company’s shares on the secondary market will now continue based on this new price.

The rights issue book closure date has been announced as Ashad 2, meaning only shareholders holding shares on the NEPSE as of Ashad 1 will be eligible to participate in the rights offering. People’s Power plans to issue 3,163,000 ordinary shares at a face value of NPR 100 each, offering existing shareholders an opportunity to increase their holdings proportionally at the ratio of one new share for every two shares held.

Prabhu Capital has been appointed as the issue and sales manager for this rights share offering. The company received approval for the rights issue from the Securities Board of Nepal (SEBON) on Jestha 2, paving the way for the upcoming issuance.

This rights issue is expected to strengthen People’s Power’s capital base and support its ongoing and future projects. Shareholders are advised to consider the adjusted share price and the rights issue timeline carefully.