Mankamana Engineering Hydropower Limited has announced the initiation of Initial Public Offering (IPO) issuance and sale for the general public from August 28. After selling shares to the affected local residents and Nepalis working abroad in the first phase of the program, the company has now opened the IPO sale for the general investors.
The company has increased the number of shares to 2,276,620 shares from the remaining unsold shares of the share distribution to affected local residents, and foreign employees, without receiving full applications for the shares with complete applications for the shares that were subject to share issuance at the rate of NPR 100 per share.
In the IPO of Mankamana Engineering Hydropower, applications can be submitted from August 13 to August 16. If the complete applications are not received, the share issuance process will extend until August 27. The company's IPO allows a minimum of 10 shares to a maximum of 100,000 shares to be applied for.
The company has received a "Care NP Double B" issuer rating from Care Ratings Nepal for its IPO issuance. This indicates an average risk capacity of the company and suggests that the company's liability has an average risk factor.
For the company's IPO, members of the Securities Board of Nepal (SEBON) and financial institutions such as banks and their branch offices, and those using the My Share Software system of C-ASBA (Centralized Application Supported by Blocked Amount) can also apply. Similarly, the IPO issuance and sales management of the company are being handled by Bok Capital Market Limited.