Yambaling Hydropower Limited is set to issue its Initial Public Offering (IPO) starting Chaitra 8, targeting project-affected local residents and Nepali citizens working abroad in the first phase.
The company had received approval to issue 2.8 million shares worth NPR 280 million, which represents 40 percent of its issued capital of NPR 700 million. In the first phase, it will issue 700,000 ordinary shares worth NPR 70 million at a face value of NPR 100 per share for residents of the project-affected areas.
Local residents from Ward Nos. 1, 2, 3, 4, 5, 6, and 7 of Jugal Rural Municipality will be eligible to apply for these shares.
In addition, 210,000 ordinary shares worth NPR 21 million—equivalent to 10 percent of the shares allocated for the general public—will be issued to Nepali citizens working abroad who have obtained official labor approval from the Government of Nepal.
Applicants must apply for a minimum of 10 shares. Residents of the project-affected areas can apply for up to 7,000 shares, while Nepalis working abroad can apply for up to 21,000 shares.
The issue and sales manager for the IPO is Muktinath Capital Limited.
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