Mount Everest Power completes share allotment
Mount Everest Power Development Limited has successfully distributed its initial public offering (IPO) shares to the local residents who are affected by the project. The share allotment was done today morning by the sales manager NIMB Ace Capital.
The company had opened the issue of 6 lakh 80 thousand shares from Baisakh 17 for the local people of Solududhkunda Municipality in Solukhumbu district. Many local people had applied for this shares to get ownership in the hydropower company.
How many shares did the locals receive?
According to the allotment result, investors from highly affected area who applied for up to 150 shares got all the shares they asked for. Those who applied for more than that also got a maximum of 150 shares. Also, 292 lucky investors got extra 10 shares through a lottery draw, meaning they received up to 160 shares in total.
For the affected area category, those who applied up to 60 shares got exactly what they asked. The people who applied for more got a maximum of 60 shares. In this group, 1,777 investors got an extra 10 shares through lottery, making the maximum share received up to 70 shares.
Kalanga Hydro IPO allotment to happen next week
Preparing for general public issue
After finishing this local allotment, now company is preparing to bring IPO for the general public. The Securities Board of Nepal (SEBON) had granted permission to the company on Baisakh 2 to issue the IPO to the public.