कार्तिक १, २०७८ सोमबार

Tehrathum Power Company allots IPO; over 1.2 mln go empty-handed

KATHMANDU, 10 SEPT : Tehrathum Power Company has distributed initial public offerings (IPOs) today.

Issue manager NIBL S Capital informed that 10 lots of shares have been distributed among 74,400 subscribers on Friday.

The company had issued primary 800,000 units of primary shares on August 25-29. A total of 2,346,627 people had subscribed for the IPO. Meanwhile, 8,820 applications for IPO have been rejected. Over 1,281,000 applicants have been deprived of IPOs, according to the company.

Earlier, the company had issued shares to the project-affected locals in the first phase. In the second phase, 800,000 shares at the rate of Rs 100 per unit have been opened for the public.

Of the issued shares, 2 percent or 16,000 shares have been allotted to employees and 5 percent or 40,000 shares to collective investors.

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