Feb 16, Kathmandu - Maya Khola Hydropower Limited and Citizens Capital Limited have entered into a strategic agreement for the issuance and sale of rights shares of Maya Khola Hydropower. The deal designates Citizens Capital Limited as the issue and sale manager for the company's upcoming rights issue.

According to the agreement, Maya Khola Hydropower's Executive Chairman, Dinesh Prasad Shrestha, and Citizens Capital Limited's CEO, Sabir Bade Shrestha, signed the contract, marking a significant step forward in the company's growth plans.

Under the terms of the agreement, Citizens Capital Limited will facilitate the issuance of 10 million rights shares, pending approval from the Nepal Securities Board. Upon receiving the necessary permissions, Citizens Capital will oversee the sale process of these shares.

Founded in 2067 BS as a private limited company and converted to a public limited company in 2073 BS, Maya Khola Hydropower has been actively involved in hydroelectric development. The company constructed the 14.9 MW Maya Khola Hydropower Project in Sankhuwasabha district and has been generating electricity since Asadha 2080 BS, selling power to Nepal Electricity Authority. The company also issued a primary share offering to the public in Magh 2079 BS.