Molung Hydropower Company | Deadline for 8,02,500 Units of IPO Shares to The Residents of Okhaldhunga District Is Again Extended.
The Molung Hydropower Company Limited has once again extend the deadline for residents impacted by the project to Magh 15, 2079. The issue was start on Poush 19, 2079.
10%, or 8,02,500 unit shares worth Rs. 8.02 crores, of the company’s Rs. 80.25 crores in issued capital have give to Okhaldhunga District residents who are affect by the project. A later date will see the issuance of 27,28,500 unit shares, representing 34% of the company’s outstanding capital. 10% of the shares, or 272,850 units, of this public offering have been designated for Nepalese nationals working abroad. The offering closed on the third of Magh.
The minimum application quantity for the project’s localities is 10 units, while the maximum application quantity is 1000 units. The lowest application quantity for Nepalese nationals working abroad was 10, while the maximum application number was 8000.
Sunrise Capital Ltd is the issue manager for this issue.
ICRA Nepal has updated Molung Hydropower Company Limited‘s issuer rating to [ICRANP-IR] BB (pronounced ICRA NP issuer rating double B). The prompt servicing of financial obligations is thought to pose a modest risk of default for issuers with this grade.
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