KATHMANDU, Feb 6: Hotel Forest Inn has issued an initial public offering (IPO), opening applications for the general public from Thursday under the second phase of issuance.
The company is offering 3.32 million shares to the public at a face value of Rs 100 per share, amounting to Rs 332 million. Investors can apply for a minimum of 10 shares and a maximum of 200,000 shares until Feb 9.
Earlier, the company had allotted 400,000 shares worth Rs 40 million to Nepalis working abroad. The IPO is part of the company’s plan to issue 20 percent of its Rs 2 billion paid-up capital, equivalent to Rs 400 million, following regulatory approval.
Hotel Forest Inn launches IPO, applications open for migrant wo...
For the IPO, Infomerics Credit Rating Nepal has assigned the company an IRN BB- issuer rating, indicating a moderate level of risk in its capacity to meet financial obligations.
As of mid-July last year, the company reported accumulated losses of Rs 239.4 million.
Hotel Forest Inn operates the five-star Holiday Inn Resort Budhanilkantha, located in the Nagarjun hill area of Budhanilkantha, Kathmandu. The hotel features 104 rooms, an outdoor swimming pool, gym, spa and modern conference facilities, targeting both domestic and international tourists.
The hotel has investment from former Energy Minister Deepak Khadka.
