Kathmandu, Jan 31: Asian Hydropower Company Limited is to issue and sale of ordinary shares to the general public. The company has said it will issue 6,97,200 shares at a nominal rate of Rs 100 per share from February 10, 2023.
The company allocated a total of 840,000 ordinary shares worth 84 million rupees, which is 24.71 percent of the issued capital of 340 million rupees, to the general public, the Nepalese Collective Investment Fund working abroad and employees of the company. Out of which, 84,000 shares have been distributed to Nepalis working abroad and 42,000 shares to collective investment funds. In addition, 16,800 shares will be reserved for the employees of the company.
In the shares to be issued, investors can apply for the purchase of a minimum of 10 shares to a maximum of 20,000 shares.
According to the company, the investors have made arrangements to apply for the IPO through the ‘C-ASWA’ system and online using MeroShares from ASWA member banks and financial institutions approved by the Nepal Securities Board and their designated branch offices.
Care Ratings Nepal has awarded ‘CareNP BB IS’ certificate to the company. NMB Capital is the issuing and selling manager of the company’s securities.
The company has constructed the Lower Jogmai Khola hydropower project of 6.2 MW capacity in Mai Jogmai Rural Municipality of Ilam and Jogmai Khola of Ilam Municipality.
