IPO is being issued to the general public from Wednesday

Kathmandu, March 21: Sagarmatha Hydropower Company is going to issue ordinary shares (IPO) to the general public from Wednesday, 8th Chait. After distributing the IPO issued by the company to the local residents of the project-affected areas and Nepalis working abroad, it is now about to issue the IPO to the general public. The company had set aside 4368 thousand shares worth 4368 million rupees, which would be 39 percent of the issued capital of 1 billion 12 million rupees, for public issue.

4 lakh 36 thousand 800 ordinary shares which will be 10 percent of that have been issued and distributed to Nepalis who have obtained labor approval from the relevant agencies of Nepal government and are employed abroad. 5 percent i.e. 2 lakh 18 thousand 400 shares have been reserved for collective investment funds and 3 percent i.e. 1 lakh 31 thousand 40 shares have been reserved for company employees. The general public can apply for the remaining 35 lakh 81 thousand 760 shares.

In this IPO, applications can be made for a minimum of 10 shares to a maximum of 10,000 shares until Chait 12th. The company said that if all the shares are not sold during that period, the application can be submitted till 22nd of Chait. Prabhu Capital Limited is the IPO issue and sale manager of the company. Investors can apply from all CISA member banks and financial institutions and their designated branch offices that have received approval from the Nepal Securities Board.