CEDB Hydro Fund Limited Thursday
appointed NCM Merchant Banking Limited as its issue manager for the Initial
Public Offering of 17,61,000 units of shares – worth Rs. 176.1 million.
The two companies have signed an
agreement to that effect.
Chief Executive Officer of CEDB
Hydro Fund Binaya Kumar Bhandari and Managing Director of NCM Merchant Banking
Bijaya Lal Shrestha signed the agreement for their respective companies.
CEDB Hydro Fund was established by
the Clean Energy Development Bank in 2009 with an aim at the promotion and
development of hydropower in Nepal .
Hydro Fund promoted Radhi
Hydropower Project (4.4 megawatt), Sange Hydro (183 Kilowatt) and Khudi Hydro
(4 mw), which are in operation, while Dordi Khola Hydro (10.3 mw), Rukum Gad
Hydro (5 mw) and Lower Khare Khola Hydro (11 mw) are under construction.
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