Hotel Forest Inn Limited to Issue IPO Starting January 18

Kathmandu. Hotel Forest Inn Limited is set to issue an Initial Public Offering (IPO) starting from the 4th of Magh (January 18). In the first phase, the company is opening the IPO for Nepali citizens employed abroad.

According to the approval received from the Securities Board of Nepal on Poush 20, the company will issue a total of 4 million units of ordinary shares at a face value of 100 rupees per share, amounting to 400 million rupees. Out of this, 10 percent, or 400,000 units, have been allocated for Nepali citizens in foreign employment.

Nepali investors working abroad can apply for a minimum of 10 units and a maximum of 200,000 units of shares. The company stated that the IPO will remain open until Magh 8 at the earliest and Magh 18 at the latest. 

To apply for the IPO, investors can use all ASBA-member banks and financial institutions approved by the Securities Board, their designated branch offices, and the 'Mero Share' online system.

NIC Asia Capital Limited is the issue and sales manager for the company's IPO.

The company plans to issue the IPO to the general public in the second phase after completing the share issuance for Nepalis in foreign employment in the first phase.