KATHMANDU, July 22: Sikles Hydropower Limited has opened the issue and sale of ordinary shares for local residents who may be affected by the project. The company is set to open the sale of 85,000,000 units of shares as initial public offerings (IPO) at a face value of Rs 85 million.
Residents of Madi Rural Municipality-1, 2 and 3 of Kaski district who will be affected by the project can apply for share purchase from today till 5th of August. Similarly, if the application is not received as per the demand during that period, the company said that they can apply for the purchase of a minimum of 10 shares to a maximum of 100,000 shares until the 21st of August.
Investors can apply for the purchase of shares through the ASWA system from banks and financial institutions participating in the ASWA service licensed by the Securities Board of Nepal. Similarly, the company said that applications can be made from Machhapuchhre Bank's office in Madi Rural Municipality-1, Bank of Kathmandu, Muktinath Bikas Bank and Pokhara branch of NIC Asia Bank.
BoK Capital Limited is the issue and sales manager of the company's securities. The company has been rated (CareNP BB plus IS) by Care Nepal.