Kathmandu. Today is the last day for Nepali migrant workers to apply for the IPO of Sanigad Hydro.
The company had issued the initial public offering (IPO) in the first phase from March 8 for the locals of the project-affected areas and the Nepalis working abroad. Nepalis who are in foreign employment can apply till the banking session today.
The company has been permitted to issue 8.55 million units of shares at a face value of Rs 85.50 crore, which is 30% of the issued capital of Rs 2.85 billion. Out of the issued capital, the company is issuing 10% of the total 28,50,000 units of ordinary shares to the locals of the project-affected areas. Out of them, 18,52,500 units of shares have been set aside in Bungal Municipality Ward No. Residents of ward no. 1, 2 and 4 and the remaining 997,500 units of land will be allocated to ward no. 1, 2 and 4 of Bungal Municipality. Residents of Provinces 3, 5, 6, 7, 9, 10 and 11 have been allocated for the residents.
Similarly, 10% of the total shares allotted to the general public can apply for 5,70,000 units. Applications can be place for minimum 10 units and maximum 20,000 units.
The interested bidders can bid for the shares from Laxmi Sunrise Bank’s Chainpur branch, Global IME Bank, Rastriya Banijya Bank and Agriculture Development Bank’s Bajhang branch. Nepalis who are in foreign employment can apply for the shares from the banks and financial institutions that are participating in the ASBA service and their designated branch offices as well as from the Securities Board of Nepal (SEBON).
The IPO will be issued at the earliest on April 22 and at the latest, it will be on April 7, 2083. Laxmi Sunrise Capital has been appointed as the issue manager for the IPO issuance.
