Madhya Bhotekoshi Hydropower Company Limited’s initial public offering, which had been available for locals to buy since Tuesday, has been postponed. The company was issuing 60 lakh shares to locals and other residents of Sindhupalchowk district who were affected by the project.
Locals were given the option of applying online due to the risk of COVID-19. Locals could apply at various bank and financial institution branch offices in Sindhupalchowk district, as well as at the websites of seven merchant bankers in the Kathmandu Valley.
The issue manager, Global IME Capital, and the company, however, have issued a joint statement stating that the IPO issue will be postponed until the COVID situation improves.