Mountain Hydro’s IPO gets approval from SEBON; 12.50 lakh unit to be issued to local people of project affected area

The initial public offering (IPO) of Mountain Hydro Nepal Limited for the local people has been approved by the Securities Board of Nepal (SEBON).

The hydropower company received approval to issue 12,50,000 unit shares as initial public offering to the local people of project affected area. The issuance will be the mandatory 10% issue for the local people of the project affected area.

Siddhartha Capital Limited has been appointed as the issue manager for the IPO issuance.

Mountain Hydro Nepal Limited has been developing 21.6 MW Lowar Hewa Khola Hydropower Project located in Panchthar District. After the issuance of IPO for the local of the project affected area, the hydropower company will issue IPO for the general public as well.