Hotel Forest Inn has opened its Initial Public Offering (IPO) for the general public starting today. The company had earlier issued and already completed the allotment of shares reserved for Nepalis working abroad.
The company received approval to issue 4 million shares worth Rs 400 million. Out of this, 400,000 shares were allotted to Nepalis employed overseas, 200,000 shares to mutual funds, and 80,000 shares to company employees, all of which have already been distributed.
The remaining 3.32 million ordinary shares, worth Rs 333 million at a face value of Rs 100 per share, are being issued to the general public from today.
Investors can apply for a minimum of 10 shares and a maximum of 200,000 shares. The IPO will close as early as Magh 26 and no later than Falgun 8.
Applications can be submitted through ASBA-participating banks and financial institutions or via the Meroshare online system. NIC Asia Capital Limited has been appointed as the issue and sales manager for the IPO.
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