City Hotel Ltd will issue IPO shares to the general public and Nepalese Employees working abroad

City Hotel Ltd will issue IPO shares to the general public and Nepalese Employees working abroad

An offer letter for City Hotel Limited’s Initial Public Offering (IPO) to Nepalese nationals living and working overseas has publish.

From 21 Chaitra, 2079, the business will issue 1,67,400 unit shares with a Rs 100 face value to Nepalese citizens who are employe abroad. The deadline for this issue is Friday, May 5, 2080.

According to this, starting on Baisakh 25, 2080, the corporation would issue 13,55,940 unit shares with a face value of Rs 100 to the general public.

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This issue has an early closing date of 28 Baisakh, and if it is not completely subscribed, it may be prolonged until 8 Jestha, 2080.

Out of the total 16,74,000 units, 10%, or 1,67,400 units, have been reserved for Nepalese nationals working abroad.

City Hotel Ltd will issue IPO shares to the general public and Nepalese Employees working abroad

4%, or 66,960 units, have reserve for corporate workers, and 5%, or 83,700 units, have reserve for mutual funds. 13,55,940 units are left over for sale to the general public.

After the IPO allocation, the company’s total paid-up capital will be Rs 1.67 Arba. The IPO issuance’s issue manager has the name Global IME Capital Ltd. A minimum of 10 units and a maximum of 2,000 units can request in an application.

The Hotel Hyatt Place of Soaltee style is a new five-star hotel that was develope and is run by City Hotel Ltd, a company that was found on December 5, 2007.

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The 153-room hotel is a member of the Golyan Group of businesses. Seven stockholders are promoting the business, and they have so far invested a total of Rs. 1.50 arba in paid-up equity.

Keep Visiting Kpadhne.com to get the latest information about the Education sector and Shares.

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