IPO Proposal of City Hotel Finally Approved by SEBON; Company to Issue IPO Worth Rs 16.74 Crore Soon

The Securities Exchange Board of Nepal (SEBON) has approved the proposed IPO issue of City Hotel Limited on Chaitra 05.

The company will now issue 1,674,000 equity shares at a par value of NPR 100 each. The amount of the issue is Rs. 16.74 Crore. This is 10% of the company's issued capital. 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 proposed IPO issuance.

City Hotel Limited, incorporated on December 05, 2007, the developer and operator of a new five-star hotel, The Hotel Hyatt Place of Soaltee mode, is going to issue of 10% shares of its total paid-up value to the general public, the company’s employees and to the mutual funds. The hotel has 153 room keys 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. 1,506,600,000 as of now.