Kathmandu. Snow Rivers Limited is going to issue an initial public offering (IPO) to the general public from May 29. In the second phase, the company is issuing 7,78,125 units of ordinary shares at face value of Rs 100 per share.
Prior to this, the company has allocated its shares to project-affected locals, Nepalis in foreign employment, employees and mutual funds.
Applications can be place for minimum 10 units and maximum 1000 units. Applications can be submitted by May 15 at the earliest and by May 26 at the latest. ICRA Nepal has assigned “Double B Plus” rating to the company, indicating moderate risk. Sanima Capital Limited has been appointed as the issue manager for the IPO issuance.
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