Kathmandu. Him Star Urja Company Limited is going to issue the first phase of IPO from June 15. The company is going to issue the first phase of primary share IPO for the project-affected local residents and Nepalis in foreign employment.
The company has received approval from the Securities Board of Nepal to issue 1.119 million units of IPO worth Rs 111.9 million, which is 30 percent of the issued capital of Rs 373 million, at the face value of Rs 100 per share.
Out of which, 186,500 units will be issued for the project-affected local residents and 93,250 units for Nepalis in foreign employment in the first phase.
Local residents of Khijidemba Rural Municipality Ward No. 8 of Okhaldhunga, all wards of bhusinga VDC, Likhupike Rural Municipality Ward No. 2 of Solukhumbu, ward no. 1, 2, 3, 4, 5 of solukhumbu will be able to apply for the IPO.
Nepalis who have gone abroad for employment after obtaining labour permit from the concerned body of the Government of Nepal can apply for the IPO allocated for foreign employment. Applications can be made for a minimum of 10 units and a maximum of 10,000 units.
The last date for submission of applications is June 30. However, if there are not enough applications from the project-affected people, it will be extended till July 15 and the period of those in foreign employment will not be extended.
ICRA Nepal has awarded the company a double B-minus ICRA NP issuer rating in the rating for the IPO issue. This indicates that there is an average risk in the company’s ability to bear liabilities.
Local residents can apply from citizens bank’s Likhupike branch, Okhaldhunga, Women’s Building and Public Health Building located in Khijidemba Rural Municipality-8 and Ward Office of Solukhumbu Likhupike Rural Municipality-2.
Applications can also be made through the website of NIC Asia Capital Limited, the sales manager, while the project affected persons will have to pay Rs 2 as the application form for the application.
The company will issue the IPO in the first phase and after allotment, it will be issued to the general public in the second phase.
प्रतिक्रिया दिनुहोस्