KATHMANDU: Madhya Bhotekoshi Jalvidyut Company has received approval from the regulatory body Security Board of Nepal (SEBON) to issue its Initial Public Offering (IPO).
Madhya Bhotekoshi is a public limited company established on July 29, 2010. It is promoted by Nepal Electricity Authority and Chilime Hydropower Company. Madhya Bhotekoshi will be 102 MW run-of-river in Sindhupalchowk.
According to SEBON, the 15 million shares to be issued to the public and the locals in the upcoming IPO will make up for 25% of the company’s issued capital. Specifically, 10% of the company’s issued capital will be issued to the locals and 15% to the general public.
Global IME Capital is appointed the issue manager for the IPO.
