November 11 Kathmandu —
The Securities Board of Nepal (SEBON) has resumed the long-delayed process of approving public offerings. Following the employees’ return to work on Monday after holding a one-hour protest program, SEBON moved forward with the IPO approval process on Tuesday.
On Tuesday, Solu Hydropower Limited received SEBON’s approval to issue an Initial Public Offering (IPO) worth Rs. 2 arba. The company has been authorized to issue 2 crore units of shares at a face value of Rs. 100 per share.
Solu Hydropower had applied for permission to issue 20 percent of its issued capital to the general public. The company currently has a paid-up capital of Rs. 8 arba, which will reach Rs. 10 arba after the IPO issuance.
The IPO will be managed jointly by Nabil Investment Banking Limited and Himalayan Capital Limited.