Upper Solu Hydro Electric Company issuing IPO to general public from today

KATHMANDU: Upper Solu Hydro Electric Company Limited (USHEC) is issuing 19,57,500 units of Rs 100 face value of total worth Rs. 19.57 crore as Initial Public Offering to the general public from today i.e. (Ashad 20, 2079). The early closing date of this issue is on Ashad 23 and if the issue is not fully subscribed then it can be extended up to Shrawan 2, 2079.

Out of the offered 19,57,500 units; 2% of the total offered shares to the general public i.e. 39,150 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 97,875 units have been set aside for the mutual funds. The remaining 18,20,475 units are for the general public. This is the 14.5% shares of the issued capital.

Earlier the company had issued 13,50,000 units i.e. 10% of the company’s issued capital to the project-affected locals of Solukhumbu districts’ (Dudhkunda Municipality) from 22nd Baisakh to Jestha 20, 2079. The company has successfully allotted the shares to valid applicants.