Kathmandu. Mount Everest Power Development Limited (MPL) has opened its initial public offering (IPO) from April 27. The company has issued the initial public offering (IPO) to the project-affected locals and the Nepalis who are employed abroad.
The company has been allowed to issue 25,80,000 units of shares worth Rs 25.80 crore i.e. 30% of the issued capital of Rs 86 crore. Out of the offered, 8,60,000 units of shares worth Rs 86 million each have been issued for the locals of the project-affected areas.
A total of 344,000 units have been set aside for the locals of ward no 1 and 2 of Solududhkunda municipality and the remaining 516,000 units have been set aside for the locals of ward no 1 and 2 of the affected area.
Similarly, 1,72,000 units of shares at a face value of Rs 100 per share i.e. 10% of the total amount of shares allotted to the general public have been issued to the Nepalese working abroad.
Applications can be place for minimum 10 units and maximum 10,000 units. For the project-affected locals, the IPO will be issued on May 14 at the earliest and at the latest, it will be after the banking hours on May 18. For Nepalis who are in foreign employment, the IPO issuance will close on May 7 at the earliest and at the latest, it will be on May 14 after the banking hours.
The interested bidders can apply for the shares from Machhapuchchhre Bank, Nepal Bank, Prabhu Bank, NMB Bank and Salleri branch.
Nepalis who are in foreign employment can apply for the C-ASBA service from the banks and financial institutions and their designated branch offices and CDSC’s ‘My Share’.
NIMBS Capital Limited has been appointed as the issue manager for the IPO issuance of Mount Everest Power.
