Kathmandu. Peace Energy Company is going to issue initial public offering (IPO).

The company has appointed Machhapuchchhre Capital Limited to provide Institutional Advisory Services for the Primary IPO and Issue Management Services.

Peace Energy Company will issue 20% of its issued capital i.e. 3.2 million units.

The agreement was signed by the Chief Executive Officer of Machhapuchchhre Capital Limited Mr. Upendra Malakar and Executive Chairman of Peace Energy Company. Madan Kumar Upreti signed the agreement.

Peace Energy Company is developing 28.1 MW Upper Kabeli Hydropower Project in Kabeli River of Sirijunga Rural Municipality of Taplejung district. So far, the physical progress of the project has crossed 61 percent. The project aims to be connected to the national grid by Kartik 14, 2083.