People’s Hydropower IPO open for public

Published On: November 11, 2022 12:30 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Nov 11: People's Hydropower Company Limited has opened the issue and sale of its ordinary shares to the general public from today.

The company is going to issue over 566,390 units of shares including unsold 806,390 units that was reserved for residents of affected areas at the rate of Rs 100 per share.

According to a ‘public appeal letter’, out of the issued shares, 168,190 units of shares will be allocated to the employees of the company and 280,320 units of shares will be distributed to the collective investment fund. The general public can apply for the remaining 5,157,880 units of shares.

In the shares to be sold to the general public, investors can apply for the purchase of a minimum of 10 shares to a maximum of 100,000 shares from November 15, and if no application is received during that period, until November 25.

Investors can apply through the ASWA system from banks and financial institutions participating in the ASWA service licensed by the Securities Board of Nepal and also through the website and mobile app 'Mero Share'.

The company is constructing a 54 megawatt Super Dordi hydropower 'B' project using the flow of Dordi, Purmu and Churmu rivers of Dordi Rural Municipality of Lamjung. Sanima Capital Limited is the issue and sale manager of the company. Care Rating Nepal has given 'CareNP-BB IS' grading to the company.


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