Kathmandu. Machhapuchhre Capital Limited and North Summit Hydro Limited have signed a memorandum of understanding (MoU) to provide institutional consultancy services as well as issue and sale management services for the issue of primary shares of North Summit Hydro Limited.
Machhapuchhre Capital Limited has been appointed as the issue and sales manager for issuing 30 percent of the issued capital i.e. 38,40,000 units of ordinary shares worth Rs 384 million to the general public at a face value of Rs 100 per share.
Chief Executive Officer of Machhapuchhre Capital Limited Upendra Malakar and Managing Director of North Summit Hydro Limited Balendra Chhetri signed the agreement on behalf of their respective organizations.
The North Summit Hydro Limited has utilized the water flow of Nyadi and Fidi rivulets flowing through Marsyangdi rural municipality of Lamjung district. May 4. Or. Nyadi Fidi Hydropower Project is under construction.
Machhapuchhre Capital is a subsidiary of Machhapuchhre Bank Limited. Machhapuchhre Capital Limited, a merchant banker company established as a public limited company, has been providing securities guarantee, investment management, institutional consulting services, deposit member, issue and sale manager, share registrar and collective investment fund services through the Securities Board of Nepal.
