Today is the last day to apply for the IPO of Ridge Line Energy

Kathmandu. Today is the last day to apply for the initial public offering (IPO) of Ridge Line Energy Limited. The company had started issuing 1,180,260 units of ordinary shares to the general public from February 12.

Out of the total offered shares, the company has set aside 71,100 units for mutual funds and 28,440 units for its employees. The remaining shares will be open to the general public. Applications can be place for minimum 10 units and maximum 1000 units.

The interested bidders can apply for the IPO from ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON) and their designated branches. Applications can also be submitted online using the ‘My Share’ system.

Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance. The company has received permission from the Securities Board of Nepal (SEBON) to issue 26,07,000 units of ordinary shares worth Rs 260.7 million. In the first phase, the company has issued the IPO for the Nepali nationals who have been in foreign employment since December 27 and the local residents of the project-affected areas.

After completing the IPO process under the first phase, the company has issued the IPO to the general public in the second phase. Interested investors are urged to apply on time as investors will be deprived of this opportunity if they do not apply within office hours today.