Kathmandu. Sangen Hydropower Company Limited (SJCL) is going to issue IPO from 5th of August. The company is about to issue an IPO for the local residents of the project affected area. Sangen Hydropower Company Limited (SJCL) is going to issue IPO from 5th of August. The company is about to issue an IPO for the local residents of the project affected area.

The company is about to issue 10 percent, i.e. 36 lakh 50 thousand shares, of ordinary shares reserved for local residents. In that share, the most affected area is Amachhodingmo rural municipality ward no. 5 Chilime, Amatadingmo rural municipality ward no. affected by the transmission line to be built by the affected class project. 4. Residents of Goljung, other wards 1, 2, 3 and less affected districts of Amachhodingmo rural municipality can apply.

It said that the total 10 percent shares issued will be distributed to the residents of highly affected areas, affected areas, normal affected areas and less affected areas in the ratio of 4.25:3:1.5:1 respectively.

The closure of issue will be on 19th of August at the earliest and on 4th of October at the latest. All C-ASWA member banks and financial institutions and their branch offices that have received approval from the Nepal Securities Board can apply for the IPO.

Citizen Investment Fund is the issuing and selling manager of the company, while the co-issuing and selling managers are Sunrise Capital Limited and NMB Capital Limited. In the IPO, they have to apply for a minimum of 10 shares and they can apply for a maximum of 700 shares.