Kathmandu: Beni Hydropower Project Limited is set to issue its Initial Public Offering (IPO) in the first phase starting from March 14, targeting project-affected locals and Nepalis working abroad.
In the first phase, the company will issue shares to locals of Solukhumbu district affected by the project, as well as to Nepali citizens who are employed abroad with valid labor approval.
The company will issue 1,040,000 shares to local residents. Applicants from this group can apply for a minimum of 10 shares and a maximum of 10,000 shares. The application deadline for locals is March 28. If the issue is not fully subscribed within that period, the deadline may be extended until April 12.
Similarly, the company will issue 104,000 shares to Nepalis working abroad with labor approval. Applicants under this category can also apply for a minimum of 10 shares and a maximum of 10,000 shares. The application deadline for this group is March 18.
The company has completed construction of the 19.8 MW Upper Solu Khola Hydropower Project on the Solu River in Solukhumbu and has been generating electricity since mid-June to mid-July 2023.
urjasanchar