Asian Hydropower Company Limited has opened the sale of ordinary shares for locals and Nepalis living abroad.
The company has opened the issue and sale of 424,000 units of primary shares at a fixed rate of Rs 100 per share from today. The company has allocated a total of 340,000 ordinary shares equal to Rs 34 million, which will be 10 percent of the issued capital of Rs 340 million, for the local residents affected by the project. Similarly, the company said that 84,000 shares, which will be 10 percent of the shares to be issued to the general public, will be issued to Nepalis who are employed abroad.
Forty percent of the shares issued by the company to the local residents of the project-affected areas, i.e. 136,000 shares, have been allocated for the local residents of Ilam Municipality-10, Maijogmai Rural Municipality-3 and 4 and Suryodaya Municipality-11 in the project-affected areas of Ilam. Apart from this, it is mentioned in the public invitation letter that the remaining 60 percent of the shares will be issued for the residents of other areas of Ilam. In the shares to be issued, the project-affected locals can apply for the purchase of a minimum of 10 shares to a maximum of 20,000 shares by December 27 at the earliest and by January 11 at the latest. Likewise, Nepalis who are employed abroad can apply for the purchase of a maximum of 20,000 shares until December 27. In the shares to be issued, locals can apply for purchase of shares through Prime Commercial, Global IME, NMB, Civil Bank and ASBA member banks and financial institutions approved by the Nepal Securities Board and their designated branch offices through the ‘C-ASBA’ system.
How Nepalis employed abroad can apply
Nepalis who are employed abroad can apply for share purchase through the ‘C-ASBA’ system and through ‘My Share’ from ASBA member banks and financial institutions approved by the Nepal Securities Board and their designated branch offices. CDS and Clearing Limited has said that Nepalis who have opened a remittance savings account for foreign employment can apply for share purchase online using ‘Mero Share’ by mentioning the CRN number registered in it. Asian Hydropower has been awarded ‘CareNP-BB IS’ certificate by Care Ratings Nepal. The company has constructed the Lower Jogmai Khola Hydropower Project of 6.2 megawatt capacity in My Jogmai Rural Municipality of Ilam and Jogmai Khola of Ilam Municipality.
