Madhya Bhotekoshi’s share is rich, the first day, the first transaction is so much, see
Kathmandu. A registrar has been appointed to list the shares of Madhya Bhotekoshi Hydropower Company, which had issued primary shares some time ago. Global IME Capital, which issued the IPO, signed the agreement on Thursday, the company said.
The company says that there has been some delay in the archiving of shares as a large number of IPOs have been issued locally and publicly. After the selection of the registrar, the work has been started from today and all the work has been prepared in two weeks at most, said Capital’s Chhavilal Poudel.
The company had issued 9 million shares worth Rs 900 million to the public from September 8 to 9. Out of which 4 percent or 360,000 shares were allotted for employees and 5 percent or 450,000 shares were allotted for collective investment funds. The remaining 8.19 million shares have been distributed to the public.
According to Capital, 2,390,218 investors had applied for the company’s IPO to buy shares worth Rs 3.41 billion. Out of which 95 thousand 722 applications have been rejected while the remaining 22 lakh 94 thousand 496 applications have been approved. Out of the approved applications, 8 lakh 19 thousand applicants were allotted shares at the rate of 10 lots.
Since the start of trading in the secondary market, the opening price of the company can be estimated from Rs 93.49 to a maximum of Rs 283.17. The company’s share price is expected to reach a maximum of 800.
The company is constructing a 103-megawatt power project and is preparing to start production this November.