Molung Hydropower Company Limited opened the Initial Public Offering (IPO) sale of securities on Thursday, Falgun 4.
Molung Hydropower’s IPO
The company has obtained labor approval from the local residents of the project-affected areas and the relevant agencies of the Government of Nepal and has issued IPOs for Nepalis who are employed abroad and has opened the IPO issue for the general public.
The company received permission from the Nepal Securities Board for the public issue of 27,28,500 shares.
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Out of the shares allocated for public issue, 10 percent i.e. 272 thousand 850 shares have already been issued to Nepalis who are employed abroad.
Similarly, 5 percent i.e. 1 lakh 36 thousand 425 shares have been reserved for collective investment funds, while 2 percent i.e. 54 thousand 570 shares have been reserved for employees working in the company. The company has requested applications from the general public for the remaining 22 lahks 64 thousand 655 shares.
If the IPO of the company is to be completed in 10 days and there are not enough applications during that period, the application period will be extended until 18 Falgun. Applications can be made for a minimum of 10 shares and a maximum of 8,000 shares in the said IPO.
