January 18: Sanima Middle Tamor Hydropower Limited has opened sale of its Initial Public Offering (IPO) to the locals of project-affected Taplejung district and Nepali citizens working in foreign countries from Wednesday.
Out of the total issued capital of Rs 3,33,25,00000, the hydropower is issuing 10 per cent share of the share, i.e. 33,32,500 units of shares to the project-affected locals of Taplejung district at the face value of Rs 100 per unit of share.
Of the total units of shares issued to the locals, as many as 13,33,000 units of shares are being issued to highly-affected residents of wards no 1,2,9 and 10 of Fungling Municipality, ward no 1 of Faktanlung Rural Municipality, wards no 1 and 2 of Bhikwakhola Rural Municipality, ward no 5 of Triveni Rural Municipality and ward no 1 of Maiwa Khola Rural Municipality.
Remaining 19, 99,500 units of shares are being issued to locals of Taplejung district.
The company is issuing as many as 4,99,875 units of shares, which is 10 per cent of the total 49,98,750 units of shares worth Rs 49,98,75000 separated for the general public, to the Nepali citizens working in foreign countries with labour permission received from the Labour Department in Nepal.
One can apply for a minimum of 10 shares, while the maximum unit of shares they can purchase is 20,000 at a face value of Rs 100.
The closing date of the IPO is February 1, 2023 for both migrant workers and project-affected locals of Taplejung. If the IPO goes under-subscribed issued for the locals, the deadline will be extended until February 16 , 2023.
Migrant workers can apply for the IPO through Mero Share, while project-affected locals can visit company’s office at Dhumbarahi, Kathmandu, project site in Taplejung, and branch offices of Sanima Bank, Global IMe Bank, Laxmi Bank, and Sunrise Bank in Taplejung to apply for the IPO.
Sanima Middle Tamor Hydropower Company is constructing Middle Tamor Tamor Hydro Power Project of 73 megawatt in Taplejung.