Buddhabhumi Nepal to issue IPO worth Rs. 80 million

KATHMANDU: Buddhabhumi Nepal Hydropower is going to issue 800,000 shares worth Rs. 80 million to the general investors from September 27.

The company has recently distributed four lakh shares to the project-affected locals of Nuwakot and is about to issue a total of 800,000 shares to the public in the second phase. The IPOs have a face value of Rs 100 per share.

The company stated that out of the total 800,000 shares, 5 percent or 40,000 shares will be allocated for collective investment funds and 2 percent or 16,000 shares for employees and the remaining 744,000 shares will be released to the public.

According to the company sources, the interested applicants can apply four days from the date of opening of the shares, i.e. till September 27 at the earliest and as late as September 15.

Investors will be able to apply for a minimum of 10 lots and a maximum of 50,000 lots.