Upper Solu Hydroelectric Company’s IPO opens

Published On: May 5, 2022 01:00 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, May 5: Upper Solu Hydro Electric Company Limited has opened its Initial Public Offering (IPO) issuance from Thursday. The company has issued IPOs for the locals of the project affected areas in the first phase.

The company has issued a total 1.35 million units of shares at a price of Rs 100 per unit at a face value of Rs 135 million. The residents of all the wards of Solu Dudhkund Municipality, Solukhumbu District, can apply for the company’s shares.

Interested investors can apply for a minimum of 10 units and a maximum of 100,000 units of shares. The share issuance is said to conclude on May 19 at the earliest or can get extended till June 3. The issue and sales manager of the company is NMB Capital Limited.

Similarly, the investors can apply from Solukhumbu branch office of NMB Bank, Laxmi Bank, Global IME Bank and Prime Commercial Bank. Apart from this, the company has stated that the participating banks and financial institutions can also apply for the ASWA service with the permission of the Securities Board of Nepal (SEBON). 

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