Citizens Capital appointed as issue manager for IPO of Omstones Hotels
The agreement was signed by the Managing Director of Omstone Hotels Limited Mr. Ramesh Kumar Hamal and Chief Executive Officer of Citizens Capital Limited Mr. Sabir Bade Shrestha.
KATHMANDU: An agreement was signed between Omstone Hotels Limited (Dusit Thani Himalayan Resort) and Citizens Capital Limited regarding the Issue Manager appointment for prospective Initial Public Offer (IPO) at a ceremony today.
The agreement was signed by the Managing Director of Omstone Hotels Limited Mr. Ramesh Kumar Hamal and Chief Executive Officer of Citizens Capital Limited Mr. Sabir Bade Shrestha.
According to the agreement, Citizens Capital will act as the issue manager for the prospective initial public issue of ordinary shares of Dusit Thani Himalayan Resort (Omstone Hotels Limited). The ceremony was attended by the main foreign investor Mr. Vishnu Mor.
Dusit Thani Himalayan Resort, which has been in operation since the fourth quarter of 2023 located in Patlekhet, Dhulikhel, Kavrepalanchowk, is a luxury flagship hotel of legendary Thai hotel brand hospitality chain Dusit International. Situated in a mountain top location with panoramic views of the Himalayas and the valleys, Dusit Thani Himalayan Resort is built on structures and technology standards of the international brand. Dusit Thani Himalayan Resort marks an important milestone in the development of Nepal’s tourism sector as a unique High-Value Integrated Resort and aims to serve as the catalyst in Nepal’s quest for ‘high value tourism’.
The international hospitality chain brand Dusit Thani has been providing hospitality services in 18 different countries including Nepal and is represented in Nepal by Dusit Thani Himalayan Resort (Omstone Hotels Limited). Located about 38 km from the capital Kathmandu, Dusit Thani Himalayan Resort has also been hosting seminars and events of various organizations in a magnificent environment.
Citizens Capital Limited is continuously innovating in financial advisory, investment management and mutual funds. It has been providing complete financial services to its customers across dimensions.
The Chair of Citizens Capital Limited is Mr. Rajendra Lal Shrestha and CEO is
Mr. Sabir Bade Shrestha. Citizens Capital is regulated by the Securities Board of Nepal and has co-investments of Citizens Bank, Employees Provident Fund and renowned industrialists.
