Kathmandu: Samling Power Company Limited is going to open the sale of ordinary shares to the public from October 21. The company is set to open sale of 730,000 initial public offerings (IPO) at a face value of Rs 73 million.

Of the ordinary shares to be issued, five percent or 36,500 units of shares will be distributed to the collective investment fund and two percent or 14,600 units of shares will be secured for the employees. The general public will be able to apply for the purchase of the remaining 678,900 units of shares from October 21.

According to a statement by the company, the general public will be able to apply for a minimum of 10 lots and a maximum of 20,000 lots by October 25 and if the application is not received as demanded by that period, it will be open till November 4.

The company is currently constructing a total of 9.51 MW Maibeni Hydropower Project on Mai Khola in Illam. According to the company, the total estimated cost of the project will be Rs 2 billion and the cost per megawatt will be Rs 210.3 million.