KATHMANDU, July 11: Butwal Power Company (BPC) Ltd has decided to launch Further Public Offering (FPO), floating around 3 millions units of shares at premium price.
The Special Annual General Meeting of BPC held on Monday decided to increase the company's paid-up capital to Rs 2.10 billion from existing Rs 1.70 billion.
With this FPO meant for collecting fund to financne and develop Nyadi Hydropower Project and Kabeli 'A' Hydroelectric Project, public shareholding in the company will increase to 30 percent from the existing 12 percent.
The company, however, has not fixed price of shares yet. It has also decided to allocate 5 percent shares to locals in its project areas -- Andhikhola Hydropower Porjet and Jhimruk Hydropower Project.
Related story
Reliance Spinning to issue IPO at Rs 820.80 per share
