Kathmandu. Bhujung Hydropower Limited (BHL) is going to issue an initial public offering (IPO) from January 26. The company is issuing shares to the general public after issuing shares to the locals of the project-affected areas and Nepalis who are employed abroad.
The company was allowed to issue 20 percent of the issued capital i.e. 20 million units of shares worth Rs 200 million. Out of the total offered shares, the company has set aside 10 Lakh units for the locals of the project affected area and 1 Lakh units for the Nepalese working abroad.
In the second phase, the company will be issuing 20,000 units to its employees and 50,000 units to mutual funds.
Applications can be place for minimum 10 units and maximum 50,000 units. The issuance will be closed on January 29 and the next one will be on February 10.
ICRA Nepal has assigned ICRA NP Issue Rating ‘Single B Plus’ to the company. This indicates that there is a high risk to the company’s ability to meet its obligations.
Kumari Capital Limited has been appointed as the issue manager for the IPO issuance. Investors can invest in all ASBA member banks and banks approved by the Securities Board of Nepal (SEBON).
