Mabilung Energy Ltd. to Issue IPO from Ashar 22 for Project-Affected Locals and Nepalis Working Abroad

Mabilung Energy Limited is set to issue its Initial Public Offering (IPO) from Ashar 22 (July 6) targeting project-affected locals and Nepali citizens currently employed abroad.

The company has received approval to issue 18,90,530 shares, equivalent to 48.9998% of its total issued capital of Rs. 385.824 million. The IPO will be issued in phases, starting with local residents of the affected areas and Nepalis with foreign employment permits.

In the first phase, the company will issue 385,824 shares at a face value of Rs. 100 per share, amounting to Rs. 38.5824 million, specifically for locals of the project-affected areas. Eligible applicants must be permanent residents of Madi Municipality Wards 7, 8, and 9, and Chainpur Municipality Wards 2, 3, 7, 8, and 9 in Sankhuwasabha District.

Additionally, 150,471 shares worth Rs. 15.0471 million, equivalent to 10% of the shares allocated for the general public, will be issued to Nepali citizens working abroad who have obtained official labor approval from the Government of Nepal.

Interested investors must apply for a minimum of 10 shares and can apply for up to a maximum of 50,000 shares. The application deadline for both categories is until Shrawan 4 (July 19). If the total shares are not subscribed within the initial period, project-affected locals can continue to apply until the final deadline.

This IPO aims to increase public participation in the project and channel remittance income into Nepal's capital market.