Mount Everest Power Development to Open First Phase IPO from Baisakh 17
Mount Everest Power Development is launching the first phase of its IPO targeting locals and Nepalis working abroad.
Mount Everest Power Development Limited is set to open the first phase of its Initial Public Offering (IPO) from Baisakh 17. In this phase, the company will issue shares to project-affected locals and Nepali citizens working abroad.
The company has allocated 680,000 units of shares for residents of Solu Dudhkunda Municipality in Solukhumbu. 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 remains undersubscribed.
Similarly, 172,000 units have been allocated for Nepalis working abroad. Applicants under this category can also apply for a minimum of 10 units and a maximum of 10,000 units. The application period for this segment will remain open until Baisakh 23.
After completing both phases, the company plans to issue shares to the general public. The issue manager for the IPO is NIMB Ace Capital Limited.