Nepal Purwadhar Bikas Company Ltd
(NPBCL) today signed an agreement with five merchant bankers to manage capital.
"The company has signed the agreement
with Citizen Investment Trust, Nabil Capital, Vibor Capital, NMB Capital and
NCM Capital to manage the fund," said the chairman of the company Kush
Kumar Joshi.
The company has appointed Kriti
Capital and Investment as the coordinator for the merchant bankers.
They will help the company find
promoter shareholders, he said, adding that the company that has Rs 18 billion
issued capital is floating Rs 16 billion worth ordinary shares and Rs 2 billion
worth preferential shares. "The merchant bankers, apart from promoting the
infrastructure project to attract investment, will also help the company issue
the ordinary shares."
The promoters can invest in three
installment – 30 per cent in the first year, 40 per cent in the second year and
the remaining 30 per cent in the third year – apart from up to 10 per cent
preferential shares – of the first installment – that attracts 10 per cent
coupen rate, he added.
The first public company that is
investing in an infrastructure project – a 58-km Kathmandu-Kulekhani-Hetauda
tunnel road – has started the construction unofficially on November 11, though
it is yet to officially inaugurate the construction.
The four-lane national toll
highway that starts from Balkhu in Kathmandu will have three tunnels of a total
length of 4.5 km apart from bridges and ends at Hetauda connecting the entire
western southern and eastern plains through Hetauda.
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