Buddhabhumi Nepal issuing IPO from today

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

The company has recently distributed four 400,000 shares to the project-affected locals of Nuwakot and is issuing 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.

Investors can subscribe for a minimum of 10 lots to maximum of 50,000 units of sharers lots from today until September 30.