Kathmandu- Ridge Line Energy Limited has opened its initial public offering (IPO), issuing shares in the first phase to residents of project-affected areas and Nepalis employed abroad.
The company has received approval from the Securities and Exchange Board of Nepal (SEBON) to issue a total of 2.607 million ordinary shares worth Rs 267 million. Of the issued capital, 10 percent—equivalent to 1.185 million shares worth Rs 118.5 million—has been allocated to residents of the project-affected areas.
Similarly, 10 percent of the shares earmarked for public issuance, amounting to 142,200 units, has been reserved for Nepalis working abroad who have obtained labor approval from the Government of Nepal.
After completing allocations for these two groups, the company will issue shares to the general public in the second phase. In this phase, 12 percent of the issued capital—1.422 million shares worth Rs 142.2 million—will be offered. Of this, two percent will be reserved for employees and five percent for collective investment funds, while the remaining shares will be made available to the general public.
Applicants from project-affected areas and Nepalis employed abroad can apply for a minimum of 10 units and a maximum of 50,000 units of shares.
For residents of the project-affected areas, the IPO will close on December 28 at the earliest and January 12 at the latest. For Nepalis working abroad, the issue will close on December 17 at the earliest and January 28 at the latest.
Local residents of project-affected areas can submit applications through the company’s Gorkha office, Prabhu Capital’s Kamaladi office, the online application link provided by the company, as well as Prabhu Bank’s Chepetar and Palungtar branches in Gorkha. Nepalis working abroad can apply through all ASBA member banks and financial institutions approved by SEBON, their designated branches, and the Mero Share online system.
Prabhu Capital Limited has been appointed as the issue and sales manager for the IPO. The company has stated that the public offering will proceed after the completion of the first-phase allotment.
