Nyadi Hydropower Seeks SEBON Approval for IPO

Nov 27, 2020 04:46 PM Merolagani

Nyadi Hydropower (NHL) has sought approval from Securities Board of Nepal (SEBON) for initial public offering (IPO).

The company is preparing to issue 27 percent of its issued capital as IPO which means it aims to issue primary shares worth Rs 405 million to the general public.

Out of which, 10 percent i.e. 1.5 million units of shares will be issued to locals of affected area and 2 percent i.e. 300,000 units to promoters of the company.

Out of the remaining 15 percent, 5 percent will be allocated to mutual funds and 2 percent to employees.

The remaining 12 percent i.e. 2,092,500 units will be issued to the general public.

The company has appointed Global IME Capital as its issue manager and Citizens Investment Trust (CIT) as its underwriter.

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