Kathmandu: Himalayan Hydropower has opened its Initial Public Offering (IPO) for the locals of the project affected areas of Kaski district. The company has issued a total 900,000 units of shares at a face value of Rs 90 million.

The company has stated that the preliminary sale of 8.22 percent or 900,000 shares of the company's issued capital of Rs 1.95 billion is open to the public. Interested investors can apply for a minimum of 10 units and a maximum of 100,000 units of shares.

The locals of Kaski Madi Rural Municipality Ward No 1, 2, 3, 4, 6 and 7 of the project affected area are eligible to apply for the company's IPO from May 22. If all the allocated IPOs are not sold within the stipulated time, the time will be extended up to June 6. The issue and sales manager of the company is Global IME Capital Limited.

Similarly, the investors can apply from Global IME Bank (Lekhnath and New Road Kaski branch, Machhapuchhre Bank (Madi branch), Muktinath Development Bank (Kahunkhola, Amarsingh, Budhi Bazar branch) and Garima Development Bank's auditorium, Mahendrapul, Batulechaur, Birauta, Lower Gagangaunda, Buddhachowk, Talchowk and Hemja branch offices.

Apart from this, the company has stated that the participating banks and financial institutions can also apply for the ASWA service with the permission of the Securities Board of Nepal (SEBON).