Tuesday, December 17, 2024

Union Mewa to issue IPO

 Kathmandu, Dec. 6

Union Mewa Hydro Limited is set to issue the Initiation Public Offering (IPO) of shares equivalent of Rs. 353 million. The company will issue 3.5 million shares with the unit price of Rs. 100 to the public, it informed in a statement on Friday.

The company has appointed Laxmi Sunrise Capital Limited as the issue manager of the IPO.

Bijay Lal Shrestha, CEO of the Capital, and Kiran Malla, Chairman of Union Mewa, signed an agreement appointing the issue manager.

Union Mewa is currently constructing the 23 MW Mewa Khola Hydropower Project in Mikwa Khola Rural Municipality of Taplejung district.

According to the company, about 35 per cent of the construction of the project is completed.

 Published in The Rising Nepal daily on 7 December 2024.  

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