Moonlight Hydropower Company to Float IPO | Appoints LS Capital as Issue Manager
October 29, 2024 | Investopaper
Moonlight Hydropower Company Limited is going to issue an Initial Public Offering (IPO). For this purpose, the company has appointed LS Capital Limited (Laxmi Sunrise Capital) as the issue and sales manager. An agreement has been reached between the hydropower company and LS Capital in this regard.
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The agreement was signed by Ananta Karki, chief executive officer of the company, and Bijayalal Shrestha, chief executive officer of LS Capital Limited.
In the first phase of the IPO, the company will sell shares to the locals of the project-affected areas and Nepalis in foreign employment. Similarly, after issuing the shares to the locals, the company has plans to sell shares to the general public in the second phase of the IPO.
Now, the company needs approval from the Securities Board of Nepal (SEBON) for the public offering.
About Moonlight Hydropower Company Limited
Moonlight Hydropower Company Limited, incorporated on July 13, 2006, is currently developing a 22.14 MW Balephi-A Hydropower Project in Sindhupalchowk district of Nepal.
The total estimated cost is Rs. 4.84 Arba which translates into per MW cost of Rs. 21.86 crores per megawatt.
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