Kathmandu. Hotel Forest Inn is going to issue initial public offering (IPO).

In the first phase, the company will be issuing work permit to the Nepalis going abroad for employment.

The company is issuing 40 lakh units of shares worth Rs 400 million, which is 20% of the issued capital of Rs 2 billion. The company will issue 400,000 units of shares worth Rs 40 million at the rate of 10 percent each to the Nepalese living abroad.

Applications can be place for minimum 10 units and maximum 2,000,000 units. Applications can be submitted for the IPO from January 18 to January 2018. If the application is not received as per the demand within the stipulated period, the application can be submitted till February 1.

NIC Asia Capital has been appointed as its issue manager. Nepalis who are in foreign employment can apply for the shares through banks and financial institutions that have taken ASBA membership services from the Securities Board of Nepal and My Shares.