Kathmandu. Suryakunda Hydro Electric Limited (Suryakunda Hydro Electric Limited) has opened its initial public offering (IPO) for the general public from today. The company has issued 5,72,431 units of ordinary shares in this phase.
Out of the total offered shares, 34,484 units have been set aside for mutual funds and 13,793 units have been allotted for employees. The general public can apply for the remaining shares. Applications can be place for minimum 10 units and maximum 1000 units.
The interested bidders can bid for the IPO from ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON). In addition, the facility to apply online through ‘My Share’ system is also available.
The IPO will close on February 7 and will remain open till February 17 if all the shares are not sold during that period. Kumari Capital Limited has been appointed as the issue manager for the IPO issuance.
Prior to this, the company had received permission from the Securities Board of Nepal (SEBON) on December 9 to issue 13,79,350 units of ordinary shares worth Rs 13,79,35,000. Accordingly, in the first phase, the IPO was issued from December 9 for the local residents of the project-affected areas and Nepali nationals working abroad. After the first phase of share allotment, the company has issued the IPO to the general public from today.
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