Super Khudi Hydropower Limited is all set to launch the IPO of issue and sale among local residents in the project-affected areas and Nepali citizens working overseas in the first phase, starting from Poush 22.
The company had already obtained permission from the Securities Exchange Board of Nepal for issuing 20 percent of the issued capital of Rs 1.55 billion or 3.1 million shares valued at 310 million rupees. Of these, 1.55 million ordinary shares valued at 155 million rupees with a face value of 100 rupees per share will be issued to local residents of project-affected areas. Likewise, 155 thousand ordinary shares valued at 155 million rupees with a face value of 100 rupees per share, equivalent to 10 percent of issued shares meant for public issuance, will be issued to Nepali laborers after obtaining labor approval from the concerned body of the Government of Nepal.
Of this, 40 percent or 620,000 ordinary shares will be issued to the local residents of Wards 2 and 3 of Marsyangdi Rural Municipality, the project-affected area of Lamjung district, while the remaining 60 percent or 930,000 ordinary shares will be issued to the local residents of Wards 1, 4, 5, 6, 7, 8 and 9 of Marsyangdi Rural Municipality.
In the IPO, local residents of the project-affected areas and Nepalis employed abroad can apply for a minimum of 10 units and a maximum of 100,000 units. Local residents of the project-affected areas can apply by Magh 6 at the earliest and by Magh 21 at the latest, while Nepalis employed abroad can apply by Poush 25.
Local residents can apply from the Besishahar branch of Global IME Bank, Prime Commercial Bank, Prabhu Bank and Krishi Bikas Bank and the Bhulbhule branch of Himalayan Bank. Meanwhile, Nepalis employed abroad can apply through the C-ASBA system from banks and financial institutions participating in the ASBA service after obtaining permission from the Securities and Exchange Board of Nepal.
Global IME Capital Limited is the share issuance and sale manager of Super Khudi Hydropower Limited.
