Mount Everest Power Development IPO Opens; Priority Given to Locals and Foreign-Employed Nepalis
Mount Everest Power Development Limited has opened its IPO from today under the first phase, targeting project-affected locals and Nepalis working abroad.
Mount Everest Power Development Limited has launched the first phase of its Initial Public Offering (IPO) starting today. In this phase, the company is offering shares to project-affected local residents and Nepalis working abroad with labor approval.
The company has allocated 680,000 shares for residents of Solukhumbu District, specifically within Solu Dudhkunda Municipality. Applicants in this category can apply for a minimum of 10 units and a maximum of 10,000 units. The application deadline is Baisakh 31, with a possible extension until Jestha 18 if the issue is not fully subscribed.
Additionally, 172,000 shares have been allocated for Nepalis working abroad. Applicants in this category can also apply for 10 to 10,000 units, with the deadline set for Baisakh 23.
After the completion of the first phase, the company plans to issue shares to the general public. The issue manager for this IPO is NIMB Ace Capital.