Pure Energy Limited has issued its Initial Public Offering (IPO) today. In the first phase, the company is issuing IPO shares to local residents affected by the project and to Nepali individuals who have obtained labor permits for foreign employment.
The company is issuing 160,000 units of shares, which comes 2% of its total capital of 800 million rupees, for local residents. Additionally, 144,000 shares (10%), are being issued for Nepali individuals working abroad.
After the first phase of share issuance to local residents and foreign employees, the company will proceed with the issuance of shares to the general public, for which 1,440,000 units of shares have been allocated.
Local residents and foreign employees can apply for the shares issued today until March 18.
Applicants can apply for a minimum of 10 shares to maximum of 16,000 shares. The company has stated that project-affected locals can apply for a maximum of 16,000 shares, while those working abroad can apply for a maximum of 7,200 shares.
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