Kathmandu— Today is the final day to apply for the initial public offering (IPO) issued by Hotel Forest Inn Limited for Nepali citizens employed abroad. The company had opened the IPO sale for Nepalis holding valid work permits under the first phase.
Under this phase, the company has issued a total of 400,000 shares. Applicants can apply for a minimum of 10 shares and a maximum of 200,000 shares. NIC Asia Capital Limited has been appointed as the issue and sales manager for the IPO.
After completing the allotment process for Nepalis working abroad, the company is preparing to issue shares to the general public. The Securities Board of Nepal granted approval to Hotel Forest Inn Limited for the IPO on December 20.
As per the approval, the company will issue a total of 4 million shares with a face value of Rs 100 per share, amounting to Rs 400 million.
Hotel Forest Inn Limited is currently operating a five-star ‘Holiday Inn Resort’ in the Budhanilkantha area of Kathmandu.
