Nepal, Oct. 11 -- Thirty companies listed on the Nepal Stock Exchange (NEPSE) have applied to the Securities Board of Nepal (SEBON) for approval to issue rights shares worth Rs 40.15 billion.

The companies have sought approval to issue a total of 401.47 million rights shares. They include 17 hydropower companies, three insurance companies, two investment companies, four manufacturing and processing companies, two hotel and tourism companies, and one bank, among others.

Nepal Lube Oil has sought approval to issue rights shares at a ratio of 1:2, equivalent to 200 percent of its existing paid-up capital. The company has applied to issue 1,457,253 shares.

Hydropower companies account for the largest share of the proposed rights issues. S...