Singati Hydro to issue IPO through Civil Capital

Jul 15, 2018 Merolagani

Singati Hydropower, an under construction hydropower project at Singati, Dolkha is set to issue IPO worth Rs 430 million. For that matter, the hydropower company has appointed Civil Capital as its issue manager.

A Memorandum of Understanding (MoU) regarding the matter was signed by Ganesh Karki, Executive Director of Hydropower and Suman Acharya, Acting CEO of Civil Capital amid a program.

The company is set to issue 4,350,000units of shares worth Rs 435 million, out of which, it  will issue 1.45 million shares worth Rs 145 million to locals of affected area and 2.9 million shares to general investors worth Rs 190 million.

The hydropower project has been financed by 10 banks under the leadership of Civil Bank. The total cost of the project has been estimated at Rs 4.63 billion.

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