SEBON permits to issue an IPO of City Hotel

Kathmandu: The Nepal Securities Board (SEBON) has granted permission to City Hotel Limited to issue an IPO. The board has allowed the hotel to issue IPO on 5th Chaitra.

The hotel will issue 1,674,000 shares at a nominal price of Rs 100 per share, i.e. shares worth Rs 16 crore 74 lakh.

Currently, the paid-up capital of the hotel is 1 Arba 50 crore 66 lakh rupees. After the IPO issue worth 16 crore 74 lakh rupees to the general public, the company’s paid-up capital will reach 1 Arba 67 crore 40 lakh rupees.

The hotel is operating a 5-star hotel in Kathmandu Tahachal from Hayat Place Brand. Global IME Capital Limited is the issued manager of the company.