Kathmandu. Pure Energy Limited is going to issue an IPO to the general public from Chaitra 28. After selling the IPO to local and foreign-employed Nepalis affected by the project in the first phase since February 20, the company is now going to open the sale to the general public.
The company is going to issue 2 percent of its issued capital of 800 million, or 160 million rupees, worth 160 thousand ordinary shares of 100 rupees each, to the local residents of the project-affected area, i.e. Banke district, and 18 percent of the issued capital, or 14,40,000 ordinary shares, 10 percent, or 1,44,000 ordinary shares, to Nepali citizens living and working abroad who have obtained labor permits from the relevant bodies of the Government of Nepal, 5 percent, or 72,000 shares, to the Collective Investment Fund, 20, or 28,800 shares, to the company’s employees, and the remaining 11,95,200 ordinary shares are going to be issued to the general public. .
A minimum of 10 units can be applied for the said shares, while a maximum of 1,00,000 units can be applied for. Applications for those shares can be submitted by April 2nd at the earliest, and if there are no applications within that time, applications can be submitted by April 11th.
Nabil Investment Banking Limited is the company’s securities issuance and sale manager. Banks and financial institutions participating in ASVA services licensed by the Nepal Securities Board and CDSC can apply through Mero Share.
