Kathmandu. Hotel Forest Inn is going to issue IPO for Nepalis working abroad from January 14 in the first phase.
The Securities Board of Nepal (SEBON) has allowed the hotel to issue 4 million units of shares worth Rs 400 million i.e. Rs 100 per share. Out of this, 10 percent of the total 400,000 units of shares will be issued by the hotel to the Nepali nationals who are working abroad.
Nepalese working abroad can apply for a minimum of 10 units and a maximum of 200,000 units of shares. The applications can be submitted from the banks and financial institutions participating in the ASBA service, their branches and my shares of CDSC.
Hotel Forest Inn’s IPO issuance will be held on January 22 and February 20 at the latest. NIC ASIA Capital has been appointed as the issue manager for the IPO issuance.
