Kathmandu. January 8 is the last day for Nepalis working abroad to apply for the IPO of Hotel Forest Inn.
The hotel had issued the IPO of Nepalis working abroad in the first phase from January 18. In this IPO, Nepalis who are in foreign employment can apply till the banking time today.
The Securities Board of Nepal (SEBON) has allowed Hotel Forest Inn to issue 4 million units of shares worth Rs 400 million (Rs 100 each). Out of this, 10 percent of the total 400,000 units of shares have been issued by the hotel to the Nepali nationals who are employed 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.
In the second phase, the company will sell the IPO to the public. NIC Asia Capital has been appointed as the issue manager for the IPO issuance.
