Ghorahi Cement Industry
Unveils Grand Plans: 15% Bonus Shares, AGM Announced!
Introduction:
In
an exciting turn of events for investors, Ghorahi Cement Industry Limited (GCIL)
is set to make waves in the financial market. Having recently launched its IPO
shares, the company is making headlines once again by proposing a generous 15%
bonus share distribution for the fiscal year 2079/80. The anticipation is
building up as GCIL gears up for its 3rd Annual General Meeting (AGM) scheduled
for Poush 28.
IPO Success:
GCIL
made a remarkable entrance into the market with its IPO of 69,11,670 units
priced at Rs 435 per unit, including a premium of Rs 335. Despite the
challenges posed by the bearish trend in the Nepal Stock Exchange (NEPSE), the
company stands out by not only being listed but also by demonstrating its
ability to provide dividends for the fiscal year 2079/80.
Key AGM Agendas:
The
upcoming AGM promises to be a pivotal event for GCIL and its stakeholders. The
outlined agendas cover crucial aspects of the company's financial well-being
and future prospects. These include the endorsement of financial reports,
approval of the auditor's report, discussions on dividend distribution,
appointment of auditors and directors, and determination of meeting allowances
for managing directors and directors.
Impressive Ratings:
GCIL's
creditworthiness is underlined by its 'CARE-NP BBB- (Is)' rating assigned by
CARE Ratings Nepal Limited (CRNL). This rating signifies a moderate degree of
safety regarding the timely servicing of financial obligations in Nepal,
reflecting a level of creditworthiness that instills confidence among
investors.
Company Background:
Founded
in 2007 and transformed into a public limited company in March 2021, GCIL has
been a significant player in Nepal's cement manufacturing sector. Operating
from the Dang Valley in Western Nepal, the company has continuously expanded its
clinker and grinding capacities. With a current clinker capacity of 3,000 MTPD
and grinding capacity of 1,400 MTPD, GCIL's product, sold under the brand name
"Sagarmatha," is distributed through a network of 21 distributors
across the country.
Bonus Shares and Book Closure:
Adding
to the excitement, GCIL is proposing a 15% bonus share distribution from
accumulated profits up to 2079/80. The book closure date is set for Poush 16,
making shareholders holding the company's shares before this date eligible to
attend the AGM and potentially benefit from the bonus share distribution.
Conclusion:
As Ghorahi Cement Industry Limited takes significant strides in the market, the proposed bonus shares and upcoming AGM reflect the company's commitment to shareholder value and sustained growth. Investors and enthusiasts alike are keeping a close eye on the unfolding developments, making GCIL a company to watch in the dynamic landscape of Nepal's financial market.
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