Kathmandu, May 5
The Upper Solu Hydroelectric Company Limited has begun issuing and selling ordinary shares to those who may be affected by the project.
From today, the business is selling 1.35 million units of its first public offering (IPO) for Rs 135 million at a price of Rs 100 per share.
By June 3, people in Solukhumbu’s Solu Dudhkund Municipality (previously Takasendu, Beni, Tamakhani, Salleri, Garma, Kerung, Gorakhani, Tapting, and Tingla VDCs) would get a minimum of ten lots and a maximum of one lakh lots. One can apply for the acquisition of shares, according to the company’s invitation letter, which was made public.
The company is building a 23.5 MW project in Solukhola, which flows through the Solukhumbu District’s Solu Dudhkund Municipality. Investors can apply for shares through the participating ASWA system, which is regulated by the Nepal Securities Board, from participating banks and financial institutions.
NMB Bank and Laxmi Bank’s Salleri Branch, Global IME Bank’s Solukhumbu Branch, and Prime Commercial Bank’s Necha Salyan Branch Office are also accepting applications, according to NMB Capital Limited. ICRA Nepal has awarded the firm an ‘Icranpi-IR BB Plus Issuer’ rating.
