Kathmandu: Yambling Hydropower Limited will open its Yambling Hydropower IPO from March 22. The company will sell shares to local residents of the project area and to Nepali citizens working abroad.
The company plans to issue 2.8 million shares worth Rs 280 million. This amount is 40 percent of the company’s issued capital of Rs 700 million.
Out of the total shares, 700,000 units will be issued to people living in the project-affected area. These shares are reserved for residents of wards 1 to 7 of Jugal Rural Municipality in Sindhupalchowk.
Local residents can apply for a minimum of 10 shares. The maximum limit for them is 7,000 shares.
The company has also reserved shares for Nepali citizens working abroad. About 210,000 units are set aside for migrant workers. This is 10 percent of the shares allocated to the general public. Nepali workers abroad can apply for up to 21,000 shares.
For local residents, the early closing date of the IPO is April 5. If the shares are not fully subscribed, the issue will remain open until April 20.
For Nepali citizens working abroad, the early closing date is March 25. If needed, the deadline will be extended until April 5.
The IPO has received a BB- rating from CARE Rating Nepal. This rating shows a moderate level of risk.
The issue manager for the Yambling Hydropower IPO is Muktinath Capital Limited. Investors can apply through C-ASBA-approved banks and financial institutions. Applications can also be submitted online through the Meroshare system.
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