Sanigad Hydro Limited operating in Bungal Municipality has announced that it will open its Initial Public Offering (IPO) from Chaitra 8.
The company will issue shares for local residents of project-affected areas and Nepalis working abroad.
The company has received approval to issue 30 percent of its issued capital of Rs 2.85 billion, which amounts to Rs 855 million worth of shares, equivalent to 8.55 million ordinary shares.
Out of the total shares, 1,852,005 shares have been allocated for residents of the highly affected areas in Bajhang District, including Bungal Municipality–4 (former Khiratadi VDC Ward-8), Bungal Municipality–2 (former Dahabagar VDC Ward-6), and Bungal Municipality–1 (former Dahabagar VDC Ward-2).
Similarly, 997,500 shares have been set aside for residents of other affected wards of Bungal Municipality—Wards 3, 5, 6, 7, 8, 9, 10, and 11.
In addition, 570,000 shares have been allocated for the general public and Nepalis working abroad.
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