Kathmandu. Today is the last day to apply for the IPO of Mabilung Energy Limited. The company has issued the IPO for the general public in the second phase from August 15 after allotting the IPO issued for the local residents of the project-affected areas and Nepalis in foreign employment.
The company had received permission to issue 1,890,530 units of shares worth Rs 189.05 million i.e. 48.9998 per cent of the issued capital of Rs 385.824 million.
Out of this, 385,824 units of ordinary shares have been issued for the local residents of the project-affected areas and 150,471 units of ordinary shares representing 10 percent of the shares allocated for the general investors.
In the second round, the company issued 1,354,235 units of shares worth Rs 135,423,500. Of these, 30,095 units have been set aside for employees and 75,236 units for mutual funds.
General investors can apply for the remaining 1,248,904 units of shares. Applications can be made for a minimum of 10 units and a maximum of 50,000 units.
ICRA Nepal has given the company ICRA NP Issuer Rating Single B+ in the rating for the IPO issue. This indicates that there is an average risk in the company’s ability to bear liabilities.
Laxmi Sunrise Capital Limited is the issue manager of the company. Investors can apply through the C-ASBA system from all C-ASBA member banks and financial institutions and their designated branch offices approved by the Securities Board of Nepal.
