Sanjen Hydropower seeks permission to issue IPO

Sanjen Hydropower Company Limited is going to issue 3.65 million IPO lots. The company has sought permission from the Nepal Securities Board, the regulatory body, to issue an IPO for locals. The company is going to issue IPO at the face value of Rs100 per share.

The company is in the process of issuing the remaining 10 percent ordinary shares to locals. The company had already issued an IPO for the general public out of the 51 per cent allotted to the founders and the remaining 49 percent to the public.

The IPO issuer and sales manager is Citizen Investment Trust.