Machhapuchchhre Capital Appointed as Issue and Sales Manager for North Summit Hydro's Public Offering

Machhapuchchhre Capital Limited and North Summit Hydro Limited have signed an agreement on 2082/02/23 for corporate advisory services and to act as the issue and sales manager for North Summit Hydro's upcoming Initial Public Offering (IPO). North Summit Hydro plans to issue 30% of its issued capital, equivalent to 38,40,000 ordinary shares at a face value of Rs. 100 per share, totaling Rs. 38.40 crores.

The agreement was signed by Upendra Malakar, CEO of Machhapuchchhre Capital, and Balendra Chhetri, Managing Director of North Summit Hydro. North Summit Hydro is currently constructing the 21.4 MW Nyadi Phidi Hydropower Project in Lamjung district. Machhapuchchhre Capital, a subsidiary of Machhapuchchhre Bank, is a licensed merchant banker providing various capital market services in Nepal.