Last Day to Apply for Ridge Line Energy Limited IPO

Kathmandu – Today is the final day to apply for the initial public offering (IPO) issued by Ridge Line Energy Limited. The company had opened the sale of 1,180,260 ordinary shares to the general public from Magh 28.

Out of the total shares issued, 71,100 shares were allocated for collective investment funds and 28,440 shares for employees. The remaining shares were made available to the general public. Investors can apply for a minimum of 10 shares and a maximum of 50,000 shares.

Interested investors can submit their applications through ASBA member banks and financial institutions approved by the Nepal Securities Board, or through designated branch offices. Applications can also be submitted online using the ‘Mero Share’ system.

Prabhu Capital Limited has been appointed as the issue and sales manager for this IPO. The company had obtained approval from the Nepal Securities Board to issue a total of 2,670,000 ordinary shares worth NPR 260.7 million. Under this approval, the first phase of the IPO was issued from Poush 13 (late December) for Nepali citizens working abroad and residents of project-affected areas.

After completing the share allocation process in the first phase, the company has now issued the IPO to the general public in the second phase. Investors are urged to submit their applications within office hours today, as missing the deadline will result in losing the opportunity.