KATHMANDU, Oct 25: Sanima Mai Hydropower Ltd (SMHL) has appointed NCM Merchant Banking Ltd as issue and sales manager to launch its rights issue.
Earlier, the 5th Annual General Meeting of the hydropower developer held in Kathmandu on September 16 approved a proposal to launch 100 percent rights issue.
Sanima Mai CEO Subarna Das Shrestha and NCM Merchant's Managing Director Bijaya Lal Shrestha signed a MoU to this effect on Tuesday, a statement issued by the hydropower developer said.
The paid-up capital of the hydropower developer will reach Rs 2.11 billion after the launch of rights issue, according to the statement.
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