Thulo Khola Hydropower To Float IPO | Appoints Citizens Capital As Issue Manager
August 21, 2023 | Investopaper
Thulo Khola Hydropower Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has appointed Citizens Capital Limited as the issue and sales manager.
An agreement has been reached between the company and Citizens Capital on this regard. The agreement was signed by Shweta Adhikari Pant, director of Thulo Khola Hydropower Limited and Sabir Bade Shrestha, Chief Executive Officer of Citizens Capital Limited.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON) after completing the necessary procedures. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
In the first phase, the company will issue shares to the locals of the project affected areas and foreign employed Nepalese. 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.
About Thulo Khola Hydropower Limited
Thulo Khola Hydropower Limited is a public limited company incorporated on April 23, 2017 as a private limited and converted into public limited on February 06, 2023.
The company is developing a Mathillo Thulo Khola-A Hydropower Project in Myagdi district of Nepal. The project is a Run-of-River type project with an installed capacity of 22.5 MW [15MW + proposed 7.5 MW].
The electricity produced by the project will be transmitted through a 132KV single-circuit transmission line, extending approximately 27 kilometers. This transmission line will be linked to the Dana Substation, which operates at 220KV.
The project’s required Commercial Operation Date (COD) is set for October 14, 2025.
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