Kathmandu. Bungal Hydro Company is going to issue ordinary shares (IPO) to the general public from September 15.

The company is issuing ipo for the general public by issuing shares for the project-affected local residents and Nepalis living abroad for employment.

The company has received approval from the Securities Board of Nepal to issue 35 percent of the issued capital of Rs 830 million i.e. 2.9 million units of shares worth Rs 290.5 million. Of these, 830,824 units have been issued for project-affected locals and 207,500 units for Nepalis living abroad for employment.

Similarly, the company has set aside 103,750 units of ordinary shares for mutual funds and 62,250 units for employees. The company is issuing 1,701,500 units of shares worth Rs 170.15 million for the general public at the rate of Rs 100 per share.

Applications can be made for a minimum of 10,000 to a maximum of 20,000 units. Applications can be submitted till September 15. If the application is not received as per the demand during the period, it can be submitted till September 30.

Himalayan Capital is the sales manager of the company. The IPO can be applied by the Securities Board of Nepal through banks and financial institutions that are members of the Securities Board of Nepal and my shares.