Bhujung Hydropower IPO opens for general public from today

Kathmandu. Bhujung Hydropower Limited has opened the initial public offering (IPO) application for the general public from today. The company is issuing a total of 8,30,000 units of ordinary shares to the general public in this phase.

50,000 units have been set aside for the mutual funds and 20,000 units have been set aside for the employees of the company. The general public can apply for the remaining shares. Applications can be place for minimum 10 units and maximum 1000 units. Interested bidders can bid for the shares from ASBA member banks and their designated branches. In addition, there is also a facility to apply online through the ‘My Share’ system.

According to the company, the IPO will close on February 26 and February 9 at the earliest. Kumari Capital Limited has been appointed as the issue manager for the IPO issuance.

The company had received approval from the Securities Board of Nepal (SEBON) on November 26 to issue 2 million units of ordinary shares worth Rs 200 million. Under the same permission, the company had issued IPO from December 17 for the locals of the project-affected areas and Nepali nationals who are in foreign employment.

After the first phase of IPO allotment, the company has issued the IPO to the general public under the second phase.