Kathmandu. Suryakunda Hydro Electric Company Limited has issued initial public offering (IPO) to the project-affected Nepalis working abroad.

The company is issuing 13,79,350 units of shares worth Rs 13,79,35,000 i.e. 20% of the issued capital of Rs 68,96,74,400.

Out of this, 689,675 units of shares worth Rs 68,967,500 have been issued to the locals of the project-affected areas.

Locals of Dupcheshwor Rural Municipality of Nuwakot can apply.

The interested bidders can bid for the shares from Jyoti Bikas Bank’s Samundratar, Agriculture Development Bank’s Khairenitar, Rastriya Banijya Bank’s Khairenitar, Trade Tower, Thapathali registered office and Dupcheshwar Rural Municipality.

Similarly, the company has issued 68,967 units of shares at the rate of Rs 100 each to the Nepalese living abroad after obtaining work permit.

Applications can be place for minimum 10 units and maximum 50,000 units. The locals affected by the project can apply till January 23. If the application is not received as per the demand within the stipulated period, the applicant can apply till January 22.

Similarly, Nepalis who are in foreign employment can apply till December 28. If the application is not received within the stipulated period, the application can be submitted till the 23rd. Nepalese who are in foreign employment can apply for the shares through the banks and financial institutions that have secured C Assurance from the Securities Board of Nepal and My Shares.

Kumari Capital has been appointed as the issue manager for the IPO issuance.