Kathmandu. Jhapa Energy Company has issued an initial public offering (IPO) from today.

In the first phase from today, the company has issued shares for the local residents of the project-affected areas and nepalis in foreign employment.

The company has issued 380,190 units of ordinary shares worth Rs 381.9 million to the project-affected locals.

A total of 190,095 units of shares allocated for the local residents will be distributed among the people living in the area around 100 meters from the site and project area where the solar power project is being constructed and operated in Shivasatakshi Municipality-4 of Jhapa district.

The remaining 190,095 units will be issued for the residents of Shivasatakshi Municipality-4 in Jhapa district. Similarly, 5,702,900 units of shares worth Rs 57,029 have been issued for Nepalis living abroad.

Applications can be made for a minimum of 10 to a maximum of 5,000 units. The project-affected locals can apply till August 30. If the application is not received as per the demand during the period, the application can be submitted till September 15.

Nepalis in foreign employment can apply till June 15. If the application is not received as per the demand during the period, the application can be submitted till July 15.

Nepalis in foreign employment can apply from the Securities Board of Nepal through banks and financial institutions that are members of the Securities Board of Nepal and my shares. Its sales manager is Himalayan Capital.

Locals can apply from Himalaya Bank’s branches and project sites in Damak, Dudhe and Surunga.