Hotel Forest Inc. Opens IPO Subscription for General Public Today
Kathmandu. Hotel Forest Inc.'s Initial Public Offering (IPO) opens today. The company is issuing an IPO for the general public. The company has already issued and allotted shares for Nepalis working in foreign employment.
The company had received approval to issue 4 million shares worth NPR 400 million. Out of this, 400,000 shares were issued and allotted to Nepalis employed abroad, 200,000 shares to mutual fund investment schemes, and 80,000 shares to the company's employees.
The remaining 3.32 million ordinary shares, equivalent to NPR 333 million at a rate of NPR 100 per share, are set to be issued starting today.
A minimum of 10 shares up to a maximum of 200,000 shares can be applied for in this IPO. The subscription will close on Magh 26 at the earliest and Falgun 8 at the latest.
Investors can apply through banks and financial institutions with the ASBA system or via the Mero Share online system. NIC Asia Capital Limited is the issue and sales manager for the company's share issuance.
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