Nyadi Hydropower IPO open

KATHMANDU: AUGUST 17 – The initial public offering (IPO) sale of Nyadi Hydropower Company Limited has been opened. The company has opened the sale of shares to the locals and founder of the project-affected area Lamjung from today.

It is said that the IPO will be open for sale soon till August 31  and for sale till September 15. The company is going to issue a total of 1.8 million ordinary shares with a face value of Rs 100 per share. Out of this, the company is going to issue 500,000 shares for the locals affected by the project, 1 million shares for the district residents and the remaining 300,000 shares for the employees of its founding shareholders Butwal Power Company and Lamjung Power Development Company.

The company has issued 500,000 shares to the locals of Marsyangdi Rural Municipality-3 (only wards 1, 2, 3 and 6 of Sabik Khudi VDC) and Marsyangdi-6, 7 and 8 (all wards of Sabik Bahundanda VDC and Sabik Bhulbhule VDC).

Applications for the IPO can be submitted from NMB Bank’s Besishahar branch, Civil Bank’s Bhulbhule branch and Global IME Bank’s Besishahar, Udipur, Dordi, Bhorletar, Sundarbazar and Bhotewodar branch offices.

Employees of the founding shareholders of the company can apply from the company’s office in Buddhanagar. The issue and sale manager of the company is Global IME Capital. In addition, interested locals will be able to apply for a minimum of 10 lots and a maximum of 50,000 lots of shares.