Kathmandu. Mabilung Energy Company is going to issue ordinary shares (IPO).

The company is going to issue shares to the project-affected local residents and Nepalis in foreign employment from July 1.

The company is issuing 1,890,530 units of shares worth Rs 189.053 million i.e. 48.99 per cent of the issued capital of Rs 385.824 million. A total of 385,824 units of shares worth Rs 38,582,400 each will be issued to the locals of the project-affected areas.

Local residents of Madi Municipality-7, 8, 9 and Chainpur Municipality-2, 3, 7, 8 and 9 of Sankhuwasabha district can apply for the shares.

Similarly, 150,471 units of ordinary shares worth Rs 15 million 47 thousand 100 at the rate of Rs 100 per share have been issued for Nepalis in foreign employment. Applications can be made for a minimum of 10 units and a maximum of 50,000 units.

Local residents affected by the project will be able to apply till July 30. If the application is not received as per the demand during this period, then the application can be made till July 15.

Nepalis living abroad can apply through banks and financial institutions and my shares.

Similarly, global IME Bank, Chainpur, Himalayan Bank Madi Municipality, Laxmi Sunrise Bank, Khandbari and sankhuwasabha district, Madi Municipality ward no. 1. Applications can be made from 7.