Kathmandu. Arun Valley Hydropower Development Company has been allowed to issue 50 percent or 0.50 shares. The company has received permission from the board to issue 5.241 million 197 shares yesterday.

The company had applied to the Nepal Securities Board on September 7 seeking permission for rightful eviction.

The company has sought permission to issue 99,83,232 shares equal to Rs. 998,323,200 in the first phase.

The issue and sale manager of the company is Muktinath Capital.