Kathmandu. Apollo Hydropower Limited has opened its initial public offering (IPO) from today to the residents of the project-affected areas and the Nepalese working abroad.

The company has received approval from the Securities Board of Nepal (SEBON) to issue 14,10,000 units of ordinary shares (Rs 100 per share) worth Rs 14.10 crore. 10% of the issued capital i.e. 470,000 units have been set aside for the residents of the project affected areas and 20% i.e. 940,000 units have been set aside for the Nepalese employed abroad.

Residents of various wards of Okhaldhunga, Solukhumbu and Ramechhap districts can apply for the same. Locals can apply for a minimum of 10 units and a maximum of 47,000 units while those working abroad can apply for a minimum of 10 units and a maximum of 94,000 units.

Applications for the affected areas will be open until March 10 at the earliest and for the Nepalis who are in foreign employment, the application will be open till March 10. Himalayan Capital Limited has been appointed as the issue manager for the IPO issuance. After the first phase, the company will issue the IPO to the general public.