Liberty Energy Company to issue 15 lakh units to locals from Falgun 27

INVESTOPAPER

Liberty Energy Company is going to issue 15 lakh units shares in the Initial public offering (IPO) to the locals of the project affected area.

The company will float the IPO from Falgun 27, 2076. The issue will remain open until Chaitra 11, 2076. If it remains undersubscribed until that period, it will extend to Chaitra 26, 2076.

Out of the total 15 lakh units, 5 lakh units are reserved for the most affected areas that include Ward No. 6 and 7 of Dordi Gaupalika, Lamjung District. Likewise, 5 lakh units are for locals of other wards of Dordi Gaupalika and Ward No. 11 of Besisahar Municipality. The remaining 5 lakh units are for all the other locals of Lumjung districts.

Interested applicants can purchase a minimum of 10 shares and a maximum of 1,000 shares.

ICRA Nepal has provided IPO Grade 4 ratings to the issue of Liberty Energy Company.


In the second phase of the IPO, 22.50 lakh units shares will be floated to the general public.

The total IPO amounts to Rs. 37.50 crores, out of which the general public will apply for Rs. 22.50 crores. The remaining Rs. 15 crores worth of shares is for the local people.

The company had received approval for the issuance of the IPO from the Securities Board of Nepal (SEBON) on Falgun 8, 2076. The hydropower company applied for the IPO on Baisakh 16, 2076.

The total issued capital is Rs. 1.50 Arba. After the IPO, the general public will possess 15 percent of the company. Likewise, the locals will have 10 percent ownership.

NIBL Ace Capital is the issue manager for the IPO of Liberty Energy Company.

The hydropower company is currently developing 3 projects:

  1. Lodo Khola Small HEP
  2. BadiGad Khola HEP
  3. Upper Dordi-A HEP

Out of the 3 projects, the company has reported that almost 95 percent of the works of 25 MW Upper Dordi-A has been completed.

Mr. Kush Kumar Joshi is the chairman of the company.

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