Butwal Power Company Limited (BPCL) has revised the premium price of Further Public Offering (FPO) shares. Now, the company will be issuing FPO of 4,081,000 units at Rs. 518 per unit as per the new guideline set by Securities Board Of Nepal (SEBON).
Earlier, the hydropower company had proposed its number of shares to 40,81,000 unit shares at Rs 470 premium price.
As per the notice published in NEPSE today, the 331st BOD meeting held on Jestha 21, 2074 had approved the following:
- Share price of Rs 518 (premium of Rs. 418 added to the par value of Rs. 100)
- To issue 4,081,000 units shares at Rs. 518 for the general public.
NMB Capital Limited and Laxmi Capital Market Limited have been assigned as the co-issue managers for the FPO.
BPCL aims to use the amount collected from the FPO to develop 37.6 MW Kabeli-A Hydropower Project and 30 MW Ngadi Hydropower project. BPCL has 54% stake in Kabeli Energy Limited and 97% stake in Ngadi Hydropower Project.
BPCL has earned net profit of Rs 68.35 crore in the third quarter of the fiscal year 2073/74. Its paid up capital will reach Rs 2.21 arba and its reserve will grow by Rs 1.70 arba. Its Last Traded Price (LTP) stands at Rs 677 as of today.
Source: The Kathmandu Post