Kathmandu. Ridge Line Energy Limited is going to issue IPO from February 12. The company is going to issue an IPO to the general public.

The IPO has already been issued for the local residents of the project-affected areas and the Nepalis who are employed abroad. The company was allowed to issue 22 percent of the issued capital of Rs 1.18 billion i.e. 26.07 million units of shares.

Out of the total offered shares, 11,85,000 units have been set aside for the locals of the project affected area and 1,42,200 units for the Nepalese working abroad.

In the second phase, the company will issue 28,440 units to its employees and 71,100 units to mutual funds.

Applications can be place for minimum 10 units and maximum 5000 units. The earliest date for the issuance will be on February 14 and the latter will be on February 27.

Care Ratings Nepal has assigned CareNP Double B Issuer rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.

Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can bid for the shares online by using ‘Mero Share’ software developed by CDS & Clearing Limited and all ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON).