City Hotel Limited is Issuing its 15,06,600 Units of IPO Shares for General Public Today

City Hotel Limited is Issuing its 15,06,600 Units of IPO Shares for General Public Today

From Baisakh 25 to Baisakh 28, 2080, City Hotel Limited is going to sell 13,55,940 unit IPO shares to the general public. The issue will continue until the eighth Jestha, 2080 if unsubscribed.

13,55,940 unit shares with a face value of Rs 100 will distribute to the general public by the corporation. 10% of the 16,74,000 units, or 1,67,400 units, have already allocate to Nepalese nationals who are working abroad. Of the remaining units, 4%, or 66,960 units, have set aside for company employees.

The remaining 5% of the shares, or 83,700 units, have been allocated to mutual funds. 

After the IPO allocation, the company’s total paid-up capital will be Rs 1.67 Arba.

The IPO issuance’s issue manager is Global IME Capital Limited. A minimum of 10 units and a maximum of 2,000 units can requeste in an application.

CARE Rating

The issuer rating of ‘CARE-NP BB+ (Is)’ give to City Hotel Ltd by CARE Ratings Nepal Ltd (CRNL) has confirm once again. In Nepal, issuers with this grade are regard as having a modest risk of default when it comes to the timely payment of financial obligations.

Profile of the company

A new five-star hotel with the brand name “Hyatt Place” is being build and run by City Hotel Ltd, a company that was establish on December 5th, 2007, in Soaltee, Kathmandu. The Hyatt Place is a blend of contemporary and cultural architecture that welcomes visitors from all nations. Operating in 10 Ropani Land at Red Cross Road, Soalteemode, Tahachal, Kathmandu, Nepal, is The Hyatt Place, Kathmandu. The 153 rooms at the hotel are own by the Golyan Group of enterprises. Seven stockholders are promoting the business, and they have so far invested a total of Rs. 1.50 arba in paid-up equity.

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