Hotel Forest Inn has launched its Initial Public Offering (IPO) from Magh 4 under the first phase specifically for Nepali citizens working abroad.
The Nepal Securities Board has authorized the hotel to issue a total of 4 million shares worth NPR 40 crore at a face value of NPR 100 per share. Of this, 10 percent, or 400,000 shares, have been allocated exclusively for Nepalis working overseas.
Nepali workers abroad can apply for a minimum of 10 shares and a maximum of 200,000 shares. Applications can be submitted through participating banks and financial institutions authorized by the Securities Board, their branches, and via the CDSC “My Share” platform.
The IPO will close between Magh 8 at the earliest and Magh 18 at the latest.
NIC Asia Capital is appointed as the issue manager for this IPO.
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