Kathmandu: Solu Hydro Power has announced that it will issue an Initial Public Offering (IPO) for the general public starting from January 13. The company is planning to issue shares to local residents and Nepalis employed abroad first, and after completing the allotment for them, it will proceed with the IPO for the general public.
The company had received approval from the Nepal Securities Board on November 10 to issue 20 million ordinary shares at a face value of Rs. 100 per share, totaling Rs. 2 billion. Out of these, after issuing ordinary shares in the first phase to Nepalis employed abroad and project-affected local residents, the company allocated 500,000 shares for mutual funds and 300,000 shares for employees, and issued the remaining 8.2 million shares to the general public.
In this IPO, the general public can apply for a minimum of 10 shares and a maximum of 100,000 shares. The IPO for the general public is scheduled to close as early as January 18 and no later than January 28.
Nabil Investment Banking is the IPO sales manager for the hydropower company.
Urjasanchar
