Kathmandu. Pure Energy Limited is opening the IPO issuance and sale from today, Chaitra 28. After the IPO distribution issued by the company for the local residents of the project-affected areas and Nepalis employed abroad, it is now going to issue an IPO for the general public.
The company is going to issue 1,195,200 shares worth 119.52 million rupees at a face value of 100 rupees per share to the general public.
The company has already issued and distributed 160,000 shares worth 160 million rupees, equivalent to 2 percent of the issued capital of 800 million rupees, for the local residents of the project-affected areas and 144,000 ordinary shares for Nepalis employed abroad after obtaining labor approval from the relevant body of the Government of Nepal. Similarly, the company has also issued and distributed 72,000 units for the collective investment fund and 28,800 units for employees.
In the company’s IPO, the general public will have to apply for a minimum of 10 units and a maximum of 100,000 units. The issue will close on Baisakh 2, 2082 at the earliest and on Baisakh 11 at the latest.
Care Rating Nepal has assigned Care NP Double B Plus Issuer Rating to the company in the rating conducted for the IPO issuance. This indicates that the company has an average risk in its ability to meet its obligations.
The company’s share issue and sale manager is Nabil Investment Banking Limited. Investors can apply through the C ASBA system using the software ‘Mero Share’ online, developed by CDS and Clearing Limited, at all C ASBA member banks and financial institutions approved by the Securities and Exchange Board of Nepal and their designated branch offices.
