Terhathum Power Company issues 4,00,000 unit IPO to project-affected locals

KATHMANDU: Terhathum Power Company Limited has issued 4,00,000 unit IPO shares to the project-affected locals of Terhathum District from Shrawan 5-19, 2078.

The IPO issue for locals is open from Shrawan 5 – 19. If unsubscribed, the issue can be extended to Bhadra 2, 2078. The interested locals can place their applications for a minimum of 10 units and a maximum of 60,000 units.

NIBL Ace Capital Limited has been appointed as the issue manager for the IPO issuance.

The company has 4,000,000 registered shares of which 1,200,000 shares will be issued to the public. This is 30% of the company’s paid-up capital. SEBON approved the proposal on Ashad 10, 2078.

Out of the total 12 lakh units, 4 lakh will be issued to the locals of the project affected area and the rest 20% i.e. 8 lakh units to the general public.