Him Parvat Hydropower to issue IPO from Kartik 11

Kathmandu. Him Parvat Hydropower is set to issue an IPO from Kartik 11. In the first phase, the company will open the IPO for locals in the project-affected areas and Nepalis in foreign employment.

The company has received approval to issue an IPO worth Rs 591.5 million, which is 35 percent of its issued capital of Rs 1.69 billion. Accordingly, the company will sell a total of 5,915,000 shares with a face value of Rs 100 each.

Of that, 1,690,000 shares worth Rs 169 million will be issued to locals in the project-affected areas. Among them, 1,014,000 shares will be issued to local residents of the most affected areas—wards 5, 6, 7, and 8 of Bigu Rural Municipality and wards 2, 3, and 4 of Kalinchok Rural Municipality in Dolakha. The remaining 676,000 shares will be open for sale to locals of other wards of both rural municipalities.

Similarly, the company will open an IPO worth Rs 42.25 million, which is 10 percent of the shares allocated for general investors, for Nepalis in foreign employment. Accordingly, 422,500 shares with a face value of Rs 100 each will be issued to Nepalis in foreign employment.

In this company's IPO, one can apply for a minimum of 10 shares and a maximum of 10,000 shares.

• The IPO issuance for project-affected locals will close early on Kartik 25 and late on Mangsir 10.
• Nepalis in foreign employment can apply from Kartik 16 until Kartik 25 at the latest.

Locals can apply through Nepal Investment Bank, Sindhu Development Bank, the Singati branch office of Prabhu Bank, the Sunkhani extension counter of Laxmi Sunrise Bank, and the Charikot branch office of Citizens Bank.

Nepalis in foreign employment can apply through banks and financial institutions participating in the C-ASBA service authorized by the Nepal Securities Board and their designated branch offices, as well as through CDSC's Mero Share.

The IPO sales manager for the company is Citizens Capital.