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Mount Everest Power Development Partners with NIMB Ace Capital for IPO Share Offering

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Tue, Jan 23, 2024 11:50 AM on Latest, IPO/FPO News,
-ShareSansar

NIMB Ace Capital Limited and Mount Everest Power Development Limited signed an agreement for the issuance of 2,580,000 ordinary shares to local residents in project-affected areas and the general public. The allocated shares will make up 30 percent of the issued capital. Mr. Arjun Prasad Poudel, Chairman of Mount Everest Power Development Limited, and Sachindra Dhungana, General Manager of NIMB Ace Capital Limited, were signatories to the agreement.

Mount Everest Power Development Limited is currently building the Dudhkunda Khola Hydroelectricity Project with a 12 Mega Watt capacity, utilizing water from the Dudhkunda River. Over 80 percent of the construction work for this project, situated in Solukhumbu district, has already been accomplished.
 

As part of the agreement, NIMB Ace Capital Limited will offer Securities Issuance and Sales Manager services, overseeing all operations related to the public issue and management of ordinary shares for Mount Everest Power Development Limited.

 
 
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