22nd November 2024, Kathmandu
Liberty Energy Company Limited is gearing up to issue rights shares starting December 1, 2024. This move is aimed at raising additional capital to fuel the company’s growth and development.
Liberty Energy Rights Shares Offering
The rights issue will be offered in a 1:0.50 ratio, meaning shareholders will be eligible to buy new shares at a discounted price.
Who’s Eligible? To be eligible for the rights shares, investors must have held shares in Liberty Energy as of November 5, 2024.
How to Apply Investors can apply for the rights shares through various channels:
- Prabhu Capital Limited: The issue manager for the rights issue.
- Liberty Energy Company
- ASBA: Through banks and financial institutions authorized by the Securities Board of Nepal (SEBON).
The application period will be open from December 1 to December 22, 2024.
A Look at the Future
Liberty Energy has secured a credit rating of IRN Double B (IRN BB) from ICRA Nepal, indicating moderate risk. The funds raised from the rights issue will be utilized for various purposes:
- Loan Repayment: A significant portion of the funds will be used to repay loans taken for the Upper Dordhi Hydropower Project.
- Construction Expenses: Part of the funds will be allocated to settle outstanding construction costs for the project.
- New Investments: A portion of the funds will be invested in the Lodo Khola Small Hydropower Project.
By raising additional capital, Liberty Energy aims to strengthen its financial position, complete ongoing projects, and embark on new ventures. This will contribute to Nepal’s growing energy sector and help meet the increasing demand for clean and renewable energy.
For more: Liberty Energy Rights Shares Offering