Chilime allots 960,000 shares to project-affected locals

The Chilime Hydropower Company on Wednesday allotted 960,000 ordinary shares to 31,123 applicants residing in the area affected by the hydropower project. Chilime had offered 10 percent of its total share issue to the local residents through an initial public offering (IPO). Of the total shares issued, residents of three village development committees (VDCs) subscribed to 180,000 shares at the par value of Rs 100 per share and 156,000 shares at the premium value of Rs 237.70 per share. The company had issued the remaining 624,000 shares to residents of 15 other VDCs. The company had allotted the shares in odd lots to issue shares to all the applicants.

Source:
ekantipur