Banking News – Sanima Capital has been appointed as the issue and sales manager for the ordinary shares (IPO) of Himali Hydro Fund Limited, the promoter company of the 9 MW Sona Khola Hydropower Project.

An agreement for the IPO issuance and sales management work was signed on Friday, Kartik 13, between Somanath Kandel, Managing Director of Himali Hydro Fund Limited, and Bikas Khanal, Chief Executive Officer of Sanima Capital.

Under the agreement, the company will advance the process of issuing 14 lakh units of ordinary shares with a face value of Rs 100 per unit, equivalent to a total of Rs 14 crore. The shares will be issued to local residents of the project-affected areas, Nepalis in foreign employment, employees working in the project, and the general public.

Under the IPO issuance process, the Capital will prepare the necessary prospectus, obtain approval from the Securities Board of Nepal, and carry out all work related to share issuance, allotment, and sales management. All these processes will be advanced in accordance with prevailing securities laws and regulatory arrangements.