Why HIDCL's highest share buying demand after price Adjustment

Jun Sun 2021 10:55:01

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Why HIDCL's  highest share buying demand after price Adjustment

Kathmandu. Hydroelectricity Investment and Development Company (HIDCL) had the highest buying pressure on Sunday, the first trading day after the price adjustment.

The Nepal Stock Exchange (NEPSE) had on Friday adjusted the price for the purpose of 100 per cent rights issue of the company. The company's final price on Thursday was Rs. 588 on the basis of price adjustment. 343 was prescribed.

Sunday Rs. 343. In the second hour of trading, the opening price increased by 9.91 percent to close at Rs. 377 has been reached. There has been demand for purchase of 2.366 million 338 shares so far but no sellers have been seen. As the company has closed the book for one day on June 11 for the purpose of 100 percent rightful shares, only the existing shareholders will be able to apply till Thursday, June 10.

The Board has set aside Rs. In the ratio of 1 to 1 at the face value of Rs. Permission has been granted for the issuance of 110 million shares equal to Rs 11 billion.

 Currently, the company's paid-up capital is Rs. 16.50 billion. Global IME Capital Limited is the manager of the sale of these rights shares.