Five star hotel Hyatt Place to issue IPO worth Rs 160 million

KATHMANDU: Five Star Hotel Hyatt Place, which came into operation only last year, is going to issue ordinary shares (IPO) worth of 160 million. Hyatt Place City Hotel Lee will issue an IPO at the rate of 10 percent of the public issue capital. The company has an outstanding paid-up capital of Rs 1.67 billion.

Global IME Capital Limited has been appointed as the issuer and sales manager for issuing 10 percent IPO of the same amount. The company Five Star Hotel Hyatt Place is set toissue 1.6 million IPOs worth Rs 160 million. An IPO of Rs 100 per share is about to be issued.

An agreement was reached between the company (hyatt place) and Capital on Tuesday. The agreement was signed by Chairman Shakti Kumar Golyan on behalf of the company and Chief Executive Officer Paras Mani Dhakal on behalf of Capital.Hyatt Place, a five-star hotel built in Soltimod, Kathmandu, has been brought into operation. The hotel has the investment of Golyan Group, Kamlesh Agrawal, Harish Chandra Subedi and other prominent entrepreneurs of the country.

The 153-room Five star hotel Hyatt Place to issue IPO of Rs 160 million has a restaurant with live music, a backwaters hall, gym, swimming pool and a conference hall with a capacity of up to 400 people. More than 1,000 world-class Hyatt hotels have been established and operated in various countries of the world as a chain brand of Jyatbhati Jyatbaki Richuchabatsyal in the United States. The same international brand has come into operation as a five star hotel in Yat Place Soltimode with world class facilities.