Bhugol Energy Development Company Opens its IPO from 8 falgun for Nepalese Employee Working Abroad & Project-Affected Locals
From today, or 8 Falgun, till 25 Falgun, 2079, Bhugol Energy Development Company Limited will be releasing its initial public offering (IPO) to the project-affected inhabitants of Dailekh District and Nepalese citizens working overseas.
It should be noted that for residents of Dailekh District, the issue may be extended until the seventh Chaitra if the early closing date is not met.
The issue, though, won’t continue through the early closing date for Nepalese nationals who are employe abroad.
10%, or 544,053 unit shares worth Rs. 5.44 crores, of the company’s Rs. 54.40 crores in issued capital have give to Dailekh District residents who will impacte by the project.
A later date will see the issuance of 10,88,107 unit shares, or 20% of the company’s outstanding capital. 10% of the shares, or 108,811 units, of this public offering, have been designated for Nepali nationals working overseas; the offering will begin today.
Both project-affected locals and Nepalese nationals working abroad should submit applications in quantities of at least 10 units and up to 30,000 units. The issue manager is NIC Asia Capital Ltd.
About the Company : Bhugol Energy Development Company Opens its IPO
Bhugol Energy Development Company Limited was establish on February 16, 2009. As a private limited company, then on October 31, 2017. It changed its status to become a public limited company to enable public participation.
In Nepal’s Karnali Province’s Dailekh District, the company operates the 3.75-megawatt Dwari Khola Small Hydropower Project.
The project was created at a total cost of NPR 734 million (NPR 196 million per MW), funded in an initial debt-to-equity ratio of NPR 82:18. And began commercial operations on May 6, 2017, against the required COD of June 30, 2017.
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