KATHMANDU: Mailung Khola Hydropower Company Limited has decided to distribute its initial public ordinary shares (IPO) on Tuesday.

According to the sales manager of the company’s shares, the company’s IPO will be distributed tomorrow as the pre-allotment is completed today.

“The IPO will be distributed at 9 am tomorrow at the office of sales manager Siddhartha Capital,” the sales manager sources said.

The company had issued and sold 736,286 ordinary shares (IPOs) at a face value of Rs 100 per share from Thursday, July 29 to Tuesday, August 3.

Out of which 2 percent or 14,726 shares have already been allotted for the employees of the company and 5 percent or 36,814 shares have been allotted to the collective investment fund and the remaining 684,746 shares have been allotted to the general public.

According to the sales manager, 2,118,925 people have applied for 284,41,840 lots in the IPO.