Nepal hydroelectric power developer announces public offering

The Securities Board of Nepal has given its approval for Ridi Hydropower Development Company Ltd. to float 1.1 million units of ordinary shares to the public with the following months.

The announcement comes after Ridi issued 300,000 unit shares to residents in areas near the company’s 2.4-NMW Ridi Khola hydropower plant. Per Nepal’s regulations, companies are required to float a minimum of 10% of its issued capital to locals before opening sales to the public.

Ridi Hydropower becomes the sixth hydroelectric power listed on the Nepal Stock Exchange. Already included are the Arun Valley Hydropower Company, Butwal Power Company, Chilime Hydropower Company, National Hydropower Company and Sanima Mai Hydropower.

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