Sanima Mai Hydropower listed at the stock exchange

Sanima Mai Hydropower listed at the stock exchange

Sanima Mai Hydropower became the fifth hydel project to be listed at the Nepal Stock Exchange (Nepse) as the company listed Rs 1.05 billion worth 10,550,000 units of share, at a face value of Rs 100 per unit, today. The listed shares will be traded in a week – from next Tuesday – according to the regulation. The share of the fifth hydropower company at the Nepse is expected to open between Rs 100 to Rs 300 per unit. Sanima Mai Hydropower is developing two hydropower projects with an aggregate capacity of 29 MW, including the 22-MW Phase I project that is expected to commission in July 2014 and 7-MW Phase II project that is expected to commission in July 2015. On September 20, 2013, Sanima Mai Hydropower had floated 2.11 million units of primary shares to the public. The public issue managed by NIDC Capital that was closed on September 24 had seen some 29 times over-subscription to Rs 6 billion. The hydropower's IPO that was rated ‘[ICRANP] IPO Grade 3’ by Icra Nepal is promoted by NRNs with 70 per cent, locals of Ilam 10 per cent and general public with 20 per cent shares. Earlier in July 2013, Sanima Mai Hydro had allotted Rs 105 million worth shares to the locals of the project affected areas in nine VDCs of Ilam districts. The locals have the lock-in period of three years, unlike the general public meaning they cannot sell their shares before three years. Nepal Stock Exchange (Nepse) has already listed National Hydropower, Butwal Power, Arun Valley Hydropower and Chilime Hydropower that share around six per cent of the total market capitalisation of the listed companies.
All Rights reserved © 2013 - Designed & Developed by InDesign Media