Kathmandu. North Summit Hydro Limited is going to issue an IPO. Machhapuchchhre Capital is going to act as the sales manager in the IPO to be issued by the company.
A memorandum of understanding (MoU) has been signed today to provide institutional consultancy services as well as issue and sales manager services for the issue of primary shares of North Summit Hydro Limited. Machhapuchchhre Capital Limited has been appointed as the issue and sales manager for issuing an IPO worth Rs 384 million to the general public at the rate of 30 percent of the issued capital i.e. 3.84 million units of total 3.84 million units per share.
Chief Executive Officer of Machhapuchhre Capital Limited Upendra Malakar and Managing Director of North Summit Hydro Limited Balendra Chhetri signed the agreement on behalf of their respective organizations.
North Summit Hydro Limited has utilized the water flow of Nyadi and Fidi rivulets flowing through Marsyangdi rural municipality of Lamjung district. Nyadi Fidi Hydropower Project is under construction.
Machhapuchhre Capital Limited is a subsidiary of Machhapuchhre Bank Limited. Machhapuchhre Capital Limited, a merchant banker company established as a public limited company, has been providing securities guarantee, investment management, institutional consulting services, deposit member, issue and sale manager, share registrar and collective investment fund service through the Securities Board of Nepal.
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