Chandragiri Hills floats shares for locals today

 Chandragiri Hills Ltd has floated 3,06,819 units of primary shares – to the locals effected by the project – from today.

“The company has issued initial public offering (IPO) shares worth Rs 184 million to the project-affected locals of Chandragiri Nagarpalika in Kathmandu and Thaha Nagarpalika in Makwanpur district today,” according to the company. “The IPO will remain open for next two weeks,” it said, adding that the company will further extend the period by another two weeks, if unsubscribed. “Global IME Capital has been appointed as the issue manager for the Initial Public Offering.”

Out of the total IPO, some 3,06,819 units or 2 per cent of the total paid-up capital and 10 per cent of the total paid-up capital will be issued to the project affected locals, and for the public, respectively.

Likewise, the major promoters of the company will hold remaining 88 per cent of.