Kathmandu. Bungal Hydro Company has issued an initial public offering (IPO) for the general public from today.

The company has already issued shares to the project-affected locals and Nepalis living abroad for employment. In the second phase, shares have been issued for the general public from today.

The company is allowed 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 allotted to the local residents of the project-affected areas and 207,500 units to Nepalis living abroad for employment after obtaining labour clearance.

The company has set aside 103,750 units of ordinary shares for mutual funds and 62,250 units for employees of the company. Crumpani has issued 1,701,500 units of shares worth Rs 171.5 million to the general public.

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

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