Kathmandu: Mabilung Energy Limited has opened applications for its Initial Public Offering (IPO) to the general public starting Monday, following the completion of share allotments to locals of the project-affected areas and Nepali citizens working abroad.
The company had received approval to issue a total of 1,890,530 shares worth Rs 189.05 million. Of these, 385,824 shares were allocated to residents of the affected areas, while 150,471 shares were allotted to Nepalis employed overseas, both of which have already been distributed.
In this second phase, 1,354,235 shares have been made available for subscription. This includes 30,095 shares reserved for company employees and 75,236 shares for mutual funds, leaving 1,248,904 shares open for the general public.
Applicants can apply for a minimum of 10 shares and up to a maximum of 50,000 shares. The IPO application window will remain open until August 13 (Saun 29), with a possible extension to 25 August if subscriptions fall short.
Laxmi Sunrise Capital Limited is serving as the issue and sales manager for the IPO.
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