Kathmandu: The initial public offering (IPO) of Mabilung Energy has been allotted. Out of a total of 2,197,582 valid applicants, only 124,890 individuals received shares.
The company had first issued shares to locals affected by the project and Nepalis working abroad, with the remaining portion opened for the general public on August 10.
In the second phase, the company issued 1,354,235 shares worth Rs 1.35 billion. Out of these, 30,095 shares were reserved for employees and 75,236 shares for mutual funds, leaving 1,248,904 shares for general investors.
Altogether, 2,205,871 applicants applied for 24,512,530 shares, of which 2,197,582 applications were found valid.
As the demand far exceeded supply, shares were allotted through a lottery system. Accordingly, 124,890 applicants received 10 shares each, while four applicants received 11 shares each.
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