Kathmandu: Super Khudi Hydropower Limited has announced that it will open its initial public offering (IPO) to the general public starting February 16. The company is moving into the public subscription phase after completing the allotment of shares reserved for local residents of the project-affected areas and Nepali citizens working abroad.
The company had received approval to issue 20 percent of its paid-up capital of Rs 1.55 billion, equivalent to NPR 310 million, through the issuance of 3.1 million shares. Of this, 1.55 million ordinary shares were allocated and distributed to local residents of the project-affected areas, while 155,000 shares were issued to Nepalis employed overseas.
In addition, 77,500 shares have already been allotted to mutual funds. In the second phase, the company has reserved 31,000 shares for its employees and will now issue the remaining 1,286,500 ordinary shares to the general public at a face value of NPR 100 per share, totaling Rs 128.65 million.
Investors will be required to apply for a minimum of 10 shares and can apply for up to a maximum of 100,000 shares. The IPO subscription will close as early as February 22 and, if not fully subscribed, will remain open until March 3. Global IME Capital Limited has been appointed as the issue and sales manager for the offering.
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