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Supermai Hydropower Issued IPO for Project Affected Locals and Foreign Employment

News 07 Dec 2022 3190 0

Initial Public Offering IPO

Supermai Hydropower has issued IPO since 21st Mangsir 2079. The company has issued an IPO for project-affected local residents and Nepalese who have gone abroad for employment (Foreign Employment).

The company has issued 500,000 shares worth 50 million rupees, which will be 10 percent of the issued capital of 50 million rupees, for the residents of the affected areas.

Similarly, 50,000 shares have been issued for Nepalis who are employed abroad.

The company has informed that 40 percent i.e. 200,000 shares of the shares to be issued to the local residents of the project-affected areas will be distributed to the residents of the project-affected areas and the remaining 60% i.e. 300,000 shares will be distributed to the local residents living in other areas of Ilam other than that area.

In this IPO, it is possible to apply for a minimum of 10 shares to a maximum of 20,000 shares.

Investors of both groups can apply till January 6. If the application is not received by the said period, the project affected can apply till 6th Poush 2079 of January. The sales manager of the company is Sanima Capital Limited.

Residents of the project-affected areas can apply from designated branch offices of Goodwill Finance, Machhapuchhre Bank, Sanima Bank, and Supermy Hydropower.

It is said that Nepalese who have gone for foreign employment can apply through the C-ASBA system from all ASBA member banks and financial institutions and their designated branch offices that have received approval from the Nepal Securities Board.

The company's IPO has been assigned a triple B minus rating by ICRA NP Issuer Rating. The rating indicates an average risk to the ability to bear financial obligations.