Molung Hydro is issuing 3.53 million IPO lots

Kathmandu. Molung Hydro Power Company, which is operating a 7 MW capacity hydropower project in Okhaldhunga, is going to issue initial share (IPO). The company has appointed Sunrise Capital Limited as the sales manager for the share issue and distribution.

The company will issue 35.31 million shares at a face value of Rs 100 per share. Out of this, 8 lakh 2 thousand 5 hundred shares will be sold to the locals.

Managing Director of the company Amrit Kumar Maharjan and Chief Executive of Sunrise Capital Bijay Lal Shrestha have signed an agreement for the share issue.

Molung, the promoter of the project, which came into operation in April, 2074 BS, has stated that it is going to issue 44 percent shares of the authorized issued capital of Rs. 800 million to the public.