KATHMANDU: The initial public offering (IPO) sale of Ngadi Hydropower Company Limited has been opened for people of project area and company staff from today. The project is at Lamjung district.
The company is issuing a total of 1.8 million ordinary shares with a face value of Rs 100 per share. Out of this, the company is going to issue 500,000 shares for the locals affected by the project, 1 million shares for the district residents and the remaining 300,000 shares for the employees of its founding shareholders Butwal Power Company and Lamjung Power Development Company.
The company has issued 500,000 shares to the locals of Marsyangdi Rural Municipality-3 (only wards 1, 2, 3 and 6 of the former Khudi VDC) and the entire Bahundanda VDC and former Bhulbhule VDC of Marsyangdi-6, 7, 8 and 9.
Applications for the IPO can be submitted from NMB Bank’s Bensishahar branch, Civil Bank’s Bhulbhule branch and Global IME Bank’s Bensishahar, Udipur, Dordi, Bhorletar, Sunderbazar and Bhoteodar branch offices.
Employees of the founding shareholders of the company can apply from the company’s office in Budhnagar. The issue and sale manager of the company is Global IME Capital. In addition, interested locals will be able to apply for a minimum of 10 units and a maximum of 50,000 units of shares.
