Madhya Bhotekoshi Hydropower Got Approval to Issue 15 Million Units of Shares:
Securities Board of Nepal (SEBON) has given permission to Madhya Bhotekoshi Hydropower Company to issue a primary share IPO. The board has given permission to the company to issue an IPO on April 18.
Accordingly, the company will issue 15 million shares worth Rs 1.5 billion to the project-affected and the general public. This is 25 percent of the company's paid-up capital.
The company will issue 6 million shares equal to 10 percent of the paid-up capital of Rs. 600 million to the locals of Sindhupalchowk; and will issue 9 million shares equal to 15 percent or Rs. 900 million to the general public.
The company has already entered into an agreement with the Citizens Investment Fund for the share guarantee.
Earlier, the company had issued 14.4 million shares to the employees of the savers, founding companies, and lenders. The company had distributed the shares on December 19, 2008.
The company is constructing a 102 MW Madhya Bhotekoshi Hydropower Project in the Sindhupalchok district. The issue and sale manager of the company is Global IME Capital.
IPO Upcoming IPO