KATHMANDU, March 19: Bhujung Hydropower’s IPO has been officially listed on the Nepal Stock Exchange (NEPSE) following a listing agreement signed on Thursday.
A total of 10 million shares of the company have been added to NEPSE, of which 2 million are IPO shares and the remaining 80 percent are promoter shares.
The IPO’s opening trading range on the secondary market has been set between Rs 90.04 and Rs 270.12 per share. Trading will commence on Sunday within this price range.
Bhujung Hydropower to issue IPO worth Rs 20 million
In its IPO rating, ICRA Nepal assigned the company an “ICRA NP Issuer Rating: Single B Plus,” indicating a high risk regarding the company’s ability to meet its financial obligations.
As of last July, the company’s net worth per share was Rs 90.04, while earnings per share were negative Rs 10.81. The company currently has accumulated losses of Rs 50.7 million.
The total cost of the 7.5 MW Upper Midim Hydropower Project under construction is Rs 1.805 billion.
