IPO Alert! City Hotel Limited to Issue IPO Shares to Nepalese Citizens Working Abroad and General Public
Mon, Mar 27, 2023 9:50 AM on IPO/FPO News, Latest,
City Hotel Limited has published an offer letter to issue its Initial Public Offering (IPO) to Nepalese citizens working abroad and the general public.
The company will be issuing 1,67,400 unit shares of Rs 100 face value from 21st Chaitra, 2079 to Nepalese Citizens working aboard. The closing date of this issue is on 5th Baisakh, 2080.
Similarly, the company will be issuing 13,55,940 unit shares of Rs 100 face value to the general public from 25th Baisakh, 2080. The early closing date of this issue is on 28th Baisakh and if the issue is not fully subscribed, it can be extended up to 8th Jestha, 2080.
Out of the total 16,74,000 units; 10% i.e. 1,67,400 units have been set aside for Nepalese citizens working abroad, whereas 4% i.e 66,960 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 83,700 units have been set aside for the mutual funds. The remaining 13,55,940 units are for the general public.
The total paid-up capital after the IPO allotment would be Rs 1.67 Arba of the company.
Global IME Capital Limited has been appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 2,000 units.
City Hotel Limited, incorporated on December 05, 2007, is the developer and operator of a new five-star hotel, The Hotel Hyatt Place of Soaltee mode. The hotel has 153 rooms and belongs to the Golyan Group of companies. The company is being promoted by 7 shareholders who have infused total paid-up equity of Rs. 1.50 arba as of now.
