Kathmandu. Hotel Forest Inn Limited has completed the initial public offering (IPO) for Nepalis working abroad.

NIC ASIA Capital Limited is the issue manager for the IPO issuance.

Nepalis working abroad after obtaining work permit from the concerned body of the Government of Nepal can apply from Magh 4 to Magh 8 through my share through C-ASWA member banks and financial institutions.

During the IPO period, a total of 81,797 applicants applied for 12,93,040 units of shares. Out of them, C-Ashwa member banks and financial institutions had rejected the applications for 1,47,280 units of shares received from 6,689 applicants due to various reasons and the remaining 75,108 applicants had applied for 1,145,760 units.

During the process of application process, nine applicants had applied for 190 units of shares through 18 applications using dual beneficiary accounts, which was rejected. The remaining 75,090 applicants were allotted 10 units of shares each to 40,000 applicants through lottery.