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Sumnima Hydropower to issue IPO with Machhapuchchhre Capital as issue manager

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. Machhapuchchhre Capital Limited and Sumnima Hydropower Company have signed a memorandum of understanding (MoU) for the initial public offering (IPO) of Sumnima Hydropower to provide Institutional Advisory Services and Issue Management Services for the Initial Public Offering (IPO) of Sumnima Hydropower.

Sumnima Hydropower has appointed Machhapuchchhre Capital as its corporate advisory service and issue manager for the issue of 20% of its issued capital to the general public.TAG_OPEN_div_20 Mr. Upendra Malakar, Chief Executive Officer of Machhapuchchhre Capital and Mr. Ashish Subedi, Chairman of Sumnima Hydropower Company, signed the agreement on behalf of their respective organizations.

The hydropower company is constructing the 4.9 MW Upper Pikhuwa Hydropower Project by utilizing the water flow of Pikhuwa River that flows through Temkemaiyung Rural Municipality of Bhojpur district.TAG_OPEN_div_18 Machhapuchchhre Capital is a subsidiary of Machhapuchchhre Bank. Machhapuchchhre Capital Limited, a public limited company, has been providing securities underwriting, portfolio management, corporate advisory services, deposit member, issue manager, share registrar and mutual fund services through the Securities Board of Nepal (SEBON) ।

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