Kathmandu: CEDB Hydropower Development Company has announced the issuance of bonus shares for its shareholders. In a recent board meeting, the company decided to distribute bonus shares at the rate of 11% of the paid-up capital, excluding tax. Additionally, after issuing the bonus shares, the company plans to issue 54.5% rights shares based on the revised paid-up capital. A proposal to authorize the board for this issuance will be tabled at the upcoming annual general meeting (AGM).

The company has scheduled its AGM for October 21 and has set the book closure date for October 7. Shareholders who purchase or hold shares by October 6 will be eligible to receive the bonus shares and participate in the AGM.

Moreover, the company plans to propose amendments to its memorandum and articles of association at the AGM to change its name. Despite the name sounding like a hydropower company, CEDB operates as an investment group. The current market price of its shares is NPR 2,240 per unit.