Kathmandu. Peace Energy Company Limited is going to issue an initial public offering (IPO). The company has appointed Machhapuchchhre Capital Limited as its corporate advisory services and its issue manager.
An agreement has been reached in this regard. The agreement was signed by Mr. Upendra Malakar, CEO of Machhapuchchhre Capital Limited and Mr. Rajesh Kumar Shrestha, Executive Chairman of Peace Energy Company Ltd. Madan Kumar Upreti has signed the agreement.
Peace Energy Company Limited will issue 20% of the issued capital i.e. 3.2 million units of ordinary shares to the general public. Peace Energy Company Limited is constructing the 28.1 MW Upper Kabeli Hydropower Project by utilizing the water flow of Kabeli River that flows through Sirijunga Rural Municipality of Taplejung district. The physical progress of the project has been over 61% so far and it is targeted to be connected to the national grid by Kartik 14, 2083.
Machhapuchchhre Capital Limited is a subsidiary of Machhapuchchhre Bank Limited. Machhapuchchhre Capital, a public limited company, has been providing securities underwriting, portfolio management, corporate advisory services, deposit member, issue manager, share registrar and mutual fund services through the Securities Board of Nepal (SEBON).
