Kathmandu- Solu Hydropower Limited is set to issue its initial public offering (IPO) to the general public starting Tuesday, December 29.
The company received approval from the Securities and Exchange Board of Nepal (SEBON) on November 24 to issue a total of 20 million ordinary shares at a face value of Rs 100 per share, amounting to Rs 2 billion.
In the first phase, the company had already issued shares to Nepalis employed abroad and project-affected local residents. Following this, Solu Hydropower has allocated 500,000 shares for collective investment funds and 300,000 shares for company employees. The remaining 8.2 million shares have been reserved for the general public.
Under the public issue, investors can apply for a minimum of 10 shares and a maximum of 100,000 shares.
Applications can be submitted through banks and financial institutions participating in the C-ASBA system approved by SEBON, their designated branch offices, as well as through the CDSC-operated ‘Mero Share’ online platform.
The IPO will close on Magh 4, provided that full subscription is achieved earlier; otherwise, it will remain open until the same date. Nabil Investment Banking Limited has been appointed as the issue and sales manager for the IPO.
