Kathmandu. Solu Hydropower has issued the first batch of IPO for the locals of the project-affected areas, which is the last day to be announced on December 7.
The company had opened the IPO for locals of project-affected areas and foreign employment from November 22. The IPO issuance has been closed for Nepalis who are in foreign employment. Now, the IPO issuance period will be closed after banking this evening for the project-affected locals.
The Securities Board of Nepal (SEBON) has allowed the company to issue 20 million units of shares at a face value of Rs 100. In the first phase, the company has allocated 10 million units of units for the project-affected areas of Solukhumbu district. Ward No. 7, 11 and Thulung Dudhkoshi Rural Municipality. The company has issued 60 lakh units of shares to the residents of Ward No. 1 and 60 percent (6 million units) to the wards except the most affected wards of Solu Dudhkunda Municipality and Thulung Dudhkoshi Rural Municipality.
Applications can be place for minimum 10 units and maximum 1,00,000 units. The interested bidders can bid for the shares from Global IME Bank’s Salleri, Solukhumbu branch of Global IME Bank, Nele and Solukhumbu branch of Laxmi Sunrise Bank.
Nabil Investment Banking Limited and Himalayan Capital Limited have been appointed as the issue managers for the IPO issuance.
