Century Energy to Issue IPO at a Premium Price of Rs. 275.11
December 8, 2024 | Investopaper
Century Energy Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Mangsir 14, 2081 BS for the public issuance. Only after receiving the approval from the regulatory body, the company can float the shares to the public.
If approved by SEBON, the hydropower will float 3,00,000 shares in the public offering. At a premium price (par value Rs. 100 plus premium Rs. 175.11) of Rs. 275.11 per share, the public issue amounts to Rs. 8.25 crores.
In the first phase, the company will sell the shares to the locals of the project affected areas and foreign employed Nepalis. Likewise, in the second phase, the hydropower will float shares to the general public, including the employees of the company and the mutual fund schemes.
The company has appointed NIMB Ace Capital Limited as issue and sales manager for the IPO. The agreement for public offering has been inked between Century Energy Limited and NIMB Ace Capital Limited on this regard.
Century Energy Limited is currently operating a 0.997 MW Hadi Khola Sunkoshi A Hydropower Project in Sindhupalchowk district. The project began commercial operation since August 28, 2020.
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