Kathmandu. Hotel ForestIn Company has opened its IPO from today. The company is going to issue IPO for Nepalese who are in foreign employment.

The company was allowed to issue 4 million units of shares i.e. 20 percent of the issued capital of Rs 2 billion. Out of the total offered shares, 10 percent will be issued at the rate of Rs 100 per share to the Nepalese working abroad after obtaining labour permit from the concerned body of the government.

Applications can be place for minimum 10 units and maximum 2,000,000 units. The exodus closure for Nepalis who are in foreign employment will be on January 22 at the earliest and on January 2.

Infomerics Credit Ratings Nepal has assigned IRN Double B Minus Issue Rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.