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Mayakhola Hydropower Limited has appointed Citizens Capital Limited as the issue and sales manager for its rights share issuance.

An agreement has been signed between Mayakhola Hydropower Limited and Citizens Capital Limited regarding the issuance of rights shares.

The agreement was signed by Executive Chairman Dinesh Prasad Shrestha on behalf of Mayakhola Hydropower Company Limited and Chief Executive Officer Sabir Bade Shrestha on behalf of Citizens Capital Limited.

As per the agreement, Citizens Capital Limited will obtain approval from the Securities Board of Nepal for the issuance of 10 million units of rights shares of Mayakhola Hydropower Limited and will carry out other necessary procedures, including sales management after approval.

The company was established in 2010 as a private limited company and was converted into a limited company in 2016. It constructed the 14.9 MW Mayakhola Hydropower Project in Sankhuwasabha district and has been generating electricity since June 2023, selling power to the Nepal Electricity Authority. The company had issued initial public shares to the general public in January 2023.