Api to Distribute Right Shares

April 11: Special general meeting of Api Power Company Limited has approved the distribution of right shares to increase the capital of the hydroelectricity producer. The meeting has approved the proposal of distribution of right shares in the ratio of 1:2. With the increase in the capital, Api expects that it will become the country’s largest hydropower company within 5 years. The company has Rs 1 billion in paid-up capital.

The company has completed the construction of 8.5 MW Naugarh Gad Small Hydroelectric Project. The company in a press statement informed that the capital collected from the issuance of right shares will be utilise to construct a 75 MW hydropower project on Trishuli river.