Kathmandu. Him Star Energy Company has released the first phase of ipo from Today. The company has opened the IPO sale to the local and foreign employment nepalis in the project-affected areas.
The company has received permission to issue 1.119 million units of shares worth Rs 111.9 million i.e. 30 percent of the issued capital of Rs 373 million. Out of this, 186,500 units of ordinary shares worth Rs 18.65 million per share worth Rs 18.65 million have been opened for sale to the locals of the project-affected areas.
In this share, Khijidemba Rural Municipality Ward No. 1of Okhaldhunga district. Ward No. 8 (all wards of the erstwhile Bhusinga VDC) and Likhupike Rural Municipality of Solukhumbu district. Residents of Ward No. 2 (Ward No. 1, 2, 3, 4, 5) can apply.
Similarly, the company has opened the sale of 93,250 units of ordinary shares at a face value of Rs 100 per share of Rs 9.325 million, representing 10 per cent of the shares reserved for general investors.
Both groups can apply for a minimum of 10 units and a maximum of 10,000 units of shares. The eviction for the local residents of the project-affected areas will be closed at the earliest on July 15 and the late one on July 15. Nepalis in foreign employment will have to apply by June 15.
NIC Asia Capital is the ipo sales manager of the company. Nepalis in foreign employment can apply from all C-ASBA member banks and financial institutions approved by the Securities Board of Nepal and their designated branch offices and my share of CDSC.
Locals can apply from the Likhupike branch of Citizens Bank International, women’s building and public health building at Khizidemba rural municipality-8 of Okhaldhunga and ward office of Likhupike rural municipality-2 of Solukhumbu. Similarly, applications can also be made through the securities sales manager’s website.
Icra Nepal has given the company icra NP issuer rating double B minus in the rating given for the IPO issue. This indicates that there is an average risk in the company’s ability to bear liability.
