Unique Hydel to Issue General Shares to Locals of Affected Area of Sindhupalchowk

Unique Hydel Company Ltd, in the first phase, is issuing 55 million units of shares to locals of the affected area of Sindhupalchowk. The company has asked for permission with Securities Board of Nepal (SEBON) to issue the aforementioned amount of shares.

 

In the second phase, the company is set to issue nearly 165 million units of shares to general public, mutual funds and employees.

Upon receiving the approval, the company will issue the shares to the locals of Sindhupalchowk in the first phase. After issuing the first lot of share, it will issue shares to general public in the second phase.

The company has appointed NMB Capital as its issue manager for the issuance of the general shares. Presently, the company is operating 4.2MW Baramchi Hydroelectric Project in Baramchi River. Initially, a 1MW project, the Baramchi Hydroelectric was later developed into 4.2MW project.

The project was damaged by the devastating earthquake of April 25, 2015 and landslide consecutively. The project resumed the power generation from the last April 30.

The power generated from the project is connected to the 33KV transmission line of Nepal Electricity Authority, located 18KM away from the project area. The company signed power purchase agreement (PPA) with NEA on November 18, 2009.

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