Solu Hydropower’s public offering for Nepalis working abroad is closing today. Many investors living outside Nepal have been waiting for this chance, and the company has kept the window open for only a limited period.
The company had opened the IPO on Mangsir 7 for two groups: locals from the project area and Nepali citizens who are currently working overseas. Out of the total 4.1 million shares issued, only the portion meant for migrant workers is closing today. Locals from the project-affected areas still have more time to apply, with their deadline expected to fall between Mangsir 21 and Poush 7.
Earlier, on Kartik 24, Solu Hydropower received approval from the Securities Board to issue 20 million ordinary shares valued at Rs 2 billion.
From this, a separate part was reserved for residents of Solukhumbu’s most affected wards, including Solu Dudhkunda Municipality wards 7 and 11, and Thulung Dudhkoshi Ward 1.
These highly affected areas received 40 percent (4 lakh shares), while the remaining wards of both local units received 60 percent (6 lakh shares). A dedicated 10 percent segment, totaling 1 million shares, was set aside for Nepali citizens living abroad who have valid labour approval from the government. Nepalis working overseas can apply for a minimum of 10 shares and up to 100,000 shares. Applications can be submitted through ASBA-approved banks and financial institutions, their branches, or through the Mero Share online system.
Nabil Investment Banking and Himalayan Capital are managing the IPO issuance and sales process.
