CEDB Hydro to issue IPO from Baisakh 17; More than 25 lakh units to be sold
Kathmandu, April 21
Clean Energy Development Bank (CEDB) Hydropower Development Company Ltd., is going to sell IPO to the public from Baisakh 17.
The company is set to issue 25 lakh 18 thousand 230 lots of IPO worth Rs. 25 lakh 18 thousand 23 thousand. Out of the total shares issued, 2 percent of shares i.e 50,365 shares will be allotted to the employees, 5 percent i.e. 125,911 shares will be allotted to the collective investment fund and the remaining 2,341,954 shares will be issued to the public.
The IPO will be sold till Baisakh 21 at the earliest and on Baisakh 31 at the latest. The company says that the sale will be stopped soon if the application is received as per the demand. There is a provision to apply for the purchase of this IPO from a minimum of 10 lots to a maximum of 25,18,230 lots.
The issue and sale manager of the company is Sunrise Capital Limited. The applications can be submitted through all C-ASBA member banks and financial institutions and their branch offices approved by the Securities Board of Nepal along with the sales manager.
Securities Board of Nepal (SEBON) had given permission to the company for IPO sale on Baisakh 2. The company, which applied for issuance of IPO on Ashar 27, 2074 BS, has been allowed to sell IPO in about four years.
Currently, the company’s paid-up capital is Rs. 58 crore 75 lakh 87 thousand, after the issuance of IPO the company’s capital will reach Rs. 83 crore 94 lakh 10 thousand. After the IPO, the company will be 70 percent owned by the founders and 30 percent by the general public.
The company has proposed to distribute 5 percent bonus shares within the next fiscal year. By FY 076/77, the actual net worth per share of the company was Rs. 138.79. Based on the net worth per share, Nepse will set the price for the first transaction of the company more than three times. By the end of the last financial year, the company had made a net profit of Rs. 7 crore 66 lakh 65 thousand.
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