Hotel Forest Inn to Issue 98 Lakh Shares in IPO | Application Submitted To SEBON
November 5, 2023 | Investopaper
Hotel Forest Inn Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has submitted the application to the Securites Board of Nepal (SEBON) on Karthik 15, 2080 BS. Only after receiving the approval from the regulatory body, the company can float the shares to the public.
If approved by SEBON, the company is planning to float 98,00,000 unit shares to the general public. At a par value of Rs 100, the public issue amounts to Rs 98 crores.
The company has appointed NIC Asia Capital Limited as issue and sales manager. The agreement for public offering has already been signed between the company and NIC Asia Capital in this regard.
About Hotel Forest Inn Limited
Hotel Forest Inn Limited, was incorporated in November 22, 2010 as a private limited company. Later, the company was converted into a public company in order to issue the shares the general public.
The company is currently in the process of building a 5-star hotel in Budhanilkantha, Kathmandu. The hotel will have land coverage of 142,783 square feet and will offer a total of 102 rooms.
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