Kathmandu. Hotel Forest Inn has been granted permission to issue an IPO.
The Securities Board of Nepal (SEBON) has granted permission to Hotel Forest Inn to float an initial public offering (IPO) worth Rs 40 crore. With this, the hotel will be issuing a total of 4 million units of ordinary shares at a face value of Rs 100.
The hotel, which is the investment of former Minister for Energy, Water Resources and Irrigation Purna Bahadur Khadka, had applied to the Securities Board of Nepal (SEBON) on Kartik 1, 2080 seeking permission to issue IPO. More than 2 years after the application, the hotel got IPO approval.
NIC Asia Capital has been appointed as the issue manager for the IPO issuance.
