Tag: Citizens

  • “Citizens Capital Partners with Thulo Khola Hydropower for IPO Management; Myagdi’s 22.5 MW Project Set to Offer Shares”

    “Citizens Capital Partners with Thulo Khola Hydropower for IPO Management; Myagdi’s 22.5 MW Project Set to Offer Shares”


     

    In an event held at Sundhara, Kathmandu, Thulo Khola Hydropower Limited and Citizens Capital Limited signed an agreement for the management of their Initial Public Offering (IPO). The agreement was formalized by Mrs. Shweta Adhikari Panth, Director of Thulo Khola Hydropower Limited, and Mr. Sabir Bade Shrestha, CEO of Citizens Capital Limited.

    Under this agreement, Citizens Capital Limited, a subsidiary of Citizens Bank International Limited, will oversee the IPO process for Thulo Khola Hydropower Limited. The main objective of the IPO is to issue ordinary shares to local residents who are affected by the project, as well as to the general public.

  • “Citizens Super 30 Mutual Fund (C30MF) Makes NEPSE Debut”

    “Citizens Super 30 Mutual Fund (C30MF) Makes NEPSE Debut”


     

    “Citizens Super 30 Mutual Fund (C30MF) has recently been introduced to the NEPSE market, with a total of 75,072,390 units available for trading. This fund operates as a closed-end type, indicating that it has a fixed maturity period of 10 years. When it was initially issued, the mutual fund distributed 10 crore units, valued at Rs. 1 Arba, with 15% (1.50 crore units) set aside for allocation to its sponsor, Citizens Bank International Limited. This left 8.5 crore units open for public subscription. Investors now have the opportunity to engage in trading and investment activities with this fund on the NEPSE platform.”

     

  • “Sun Nepal Life Insurance Company Limited Initiates IPO Issue for Nepalese Citizens Working Abroad”

    “Sun Nepal Life Insurance Company Limited Initiates IPO Issue for Nepalese Citizens Working Abroad”


    Sun Nepal Life Insurance Company Limited has commenced the issuance of 9,60,000 unit IPO shares exclusively for Nepalese citizens working abroad, starting from today, 1st Shrawan. The IPO issue will remain open until the 15th Shrawan, 2080.

    The total issued capital of the life insurance company amounts to Rs. 3.2 Arba, of which 30% or 96,00,000 unit shares will be made available to the public, including Nepalese citizens working abroad and the general public. Among the total shares being issued, 10% or 960,000 units have been allocated specifically for Nepalese citizens working abroad. The remaining 86,40,000 units will be issued later to the general public, encompassing employees of the company and mutual funds.

    The IPO shares will be offered at a price of Rs. 239 per share, which includes a premium price of Rs. 139 in addition to the face value of Rs. 100.

    Nepal SBI Merchant Banking has been appointed as the issue manager for the IPO, which aims to raise a total of Rs. 2.22 Arba for Sun Nepal Life Insurance Company Limited. Out of this amount, Rs. 1.26 Arba will be allocated as the premium amount, while the remaining portion will contribute to the company’s paid-up capital.

    Established on August 2, 2017, Sun Nepal Life Insurance Company Limited is a licensed life insurance company authorized by the Insurance Board. The company offers a diverse range of products, including Money Back, Endowment, Whole Life, and Term Assurance products, through its extensive sales network. As of mid-December 2019, the company boasted a branch network of 21 (including the head office), 56 sub-branches, and 15,838 insurance agents.

    In addition, CRNL (Credit Rating Nepal Limited) has assigned a grading of ‘CARE-NP IPO Grade 4’ to the proposed IPO of Sun Nepal Life Insurance Company Limited, indicating below-average fundamentals. The company intends to issue 60 lakh shares with a target of raising Rs. 60 crores through the IPO.

  • Reliable Nepal Life Insurance IPO: 12 Lakh Unit Shares for Nepalese Citizens Working Abroad

    Reliable Nepal Life Insurance IPO: 12 Lakh Unit Shares for Nepalese Citizens Working Abroad


     

    Reliable Nepal Life Insurance Company Limited has initiated the issuance of 12,00,000 units of IPO shares exclusively for Nepalese citizens working abroad. The IPO shares will be available for subscription starting today, July 27th, and the closing date for the issue is August 10th. The company’s total issued capital is Rs. 4 Arba, with 30% of the shares, or 1,20,00,000 units, being offered to the public. Out of this, 10% (12,00,000 units) has been allocated for Nepalese citizens working abroad, 5% (600,000 units) for company employees, and 5% (600,000 units) for mutual funds. The remaining 96,00,000 units will be made available to the general public at a later stage.

     

  • “Upper Lohore Hydropower Company Limited Announces IPO Updates: Closure for Nepalese Citizens Working Abroad and Extension for Project-Affected Locals”

    “Upper Lohore Hydropower Company Limited Announces IPO Updates: Closure for Nepalese Citizens Working Abroad and Extension for Project-Affected Locals”


    Upper Lohore Hydropower Company Limited has provided updates regarding its initial public offering (IPO) of shares. The IPO is now closed to Nepalese citizens working abroad as of the 21st of Ashad, 2080. However, the deadline for project-affected locals in the Dailekh District has been extended until the 5th of Shrawan. The IPO process started on the 7th of Ashad, 2080.

    The company’s issued capital is Rs. 50.98 Crores, with 10% of the shares, worth Rs. 5.09 crores, allocated to project-affected locals in Dailekh District. Another 39% of the company’s issued capital, equivalent to 19,88,236 units, will be offered to the general public at a later date. Within the public issue, 10% of the shares, totaling 198,824 units, are reserved for Nepalese citizens working abroad, and the closing date for their participation is today.

    The minimum application quantity for both project-affected locals and Nepalese citizens working abroad is 10 units, while the maximum is 25,000 units.

    NIC Asia Capital Limited is the appointed issue manager, and after the IPO, the promoter-public share ratio will be 51:49.

    According to the Central Depository System and Clearing Limited (CDSC), 23,846 applications have been received from Nepalese citizens working abroad, with a total of 585,570 units applied for so far.

    The Upper Lohore Hydropower Company Limited has been assigned a ‘CARE-NP BB- (Is)’ rating by Credit Rating Nepal Limited (CRNL), indicating a moderate risk of default regarding financial obligations in Nepal.

    Established as a private limited company on November 10, 2017, the Upper Lohore Hydropower Company Limited has since become a public limited company. The company’s main focus is the development of the Upper Lohore Hydropower Project in the Dailekh district, with a capacity of 4MW as a run-of-the-river type project.

  • Ghorahi Cement Industry Limited Concludes IPO for Nepalese Citizens Working Abroad and Extends Deadline for Project-Affected Locals

    Ghorahi Cement Industry Limited Concludes IPO for Nepalese Citizens Working Abroad and Extends Deadline for Project-Affected Locals


    Ghorahi Cement Industry Limited has announced the closure of its Initial Public Offering (IPO) for Nepalese citizens working abroad starting from 2nd Jestha, 2080. The company has also extended the IPO deadline for project-affected locals until 17th Jestha. The IPO had initially opened on 19th Baisakh, 2080.

    With an issued capital of Rs. 3.97 Arba, Ghorahi Cement will be issuing 20% of its shares, totaling 79,43,801 units, to the public, including locals, Nepalese citizens working abroad, and the general public. Out of the total issued capital, 1% or 397,190 units have been allocated to project-affected locals in the Dang District. Additionally, 19% or 75,46,611 units will be issued later for the general public, with 10% or 7,54,661 units specifically allocated for Nepalese citizens working abroad, closing today.

    The shares will be offered at Rs. 400 per unit for locals and Rs. 435 per unit for Nepalese citizens working abroad, including premiums of Rs. 300 and Rs. 335, respectively.

    Himalayan Capital Limited and Nabil Investment Banking Limited have been appointed as the issue managers for the IPO. Following the issuance, the promoter-public share ratio will be 80:20, generating a total of Rs. 3.44 Arba for the company. Out of this amount, Rs. 2.645 Arba will be allocated as a premium, while the remaining will be added to the paid-up capital.

    According to CDSC, a total of 13,236 applications have been received from Nepalese citizens working abroad, representing a demand for 595,520 units so far.

    CARE Ratings Nepal Limited (CRNL) has assigned a rating of ‘CARE-NP BBB- (Is)’ to Ghorahi Cement Industry Limited, indicating a moderate degree of safety regarding the timely servicing of financial obligations in Nepal.

  • IPO of Three Star Hydropower Limited closes for Nepali citizens abroad and extends deadline for project-affected locals

    IPO of Three Star Hydropower Limited closes for Nepali citizens abroad and extends deadline for project-affected locals


    Three Star Hydropower Limited is closing the initial public offering (IPO) for Nepalese citizens working abroad today, i.e., 25th Baisakh, 2080, and has extended the deadline for project-affected locals to apply for the IPO until 9th Jestha. The IPO issue was opened on 11th Baisakh, 2080. The company’s issued capital is Rs. 49.25 Crores, of which 10% has been allocated to project-affected locals of Khotang District, while 15% will be issued later for the general public. Of this public issue, 10% has been allocated for Nepalese citizens working abroad, and the issue for this segment will close today.

    The minimum application quantity for project-affected locals is ten units, while the maximum quantity is 492,500 units. For Nepalese citizens working abroad, the minimum application quantity is ten units, and the maximum quantity is 73,875 units. The IPO issue manager is Himalayan Capital Limited. After this IPO, the promoter-public share ratio will be 75:25.

    As per CDSC, Nepalese citizens working abroad have submitted 20,646 applications for a total of 512,280 units. So far, the issue has been oversubscribed by 6.93 times.

    Three Star Hydropower Limited is a public company located in Province 1, Haleshi Tuwachung Municipality, Khotang. The company was established in 2072 BS and has a total capacity of 7.151 MW. The founders of the company are Kumar Kharel, Mohan Karki, and Madhav Mainali, who named the company after themselves and then named it Three Star Hydro. Later, Uddhav Raj Shivakotee ‘Kangal’, Pradeep K Agrawal, Ananda P Manandhar, Zen Lama, and Ratna Bdr Newar joined the founders. ICRA Nepal has assigned an issuer rating of Three Star Hydropower Limited as [ICRANP-IR] B-, indicating a high risk of default regarding the timely servicing of financial obligations.

  • IPO Offered by Upper Syange Hydropower Limited to Locals and Nepalese Citizens Abroad

    IPO Offered by Upper Syange Hydropower Limited to Locals and Nepalese Citizens Abroad


    Upper Syange Hydropower Limited is offering shares to project-affected locals of the Lamjung District and Nepalese citizens working abroad. The IPO will be open from 1st Jestha to 16th Jestha, 2080, and if the issue is not subscribed by the early closing date for locals of Lamjung District, it can be extended till the 30th Jestha. However, the issue will not be extended from the early closing date for Nepalese citizens working abroad. The company’s issued capital is Rs. 22 Crores, and 10% i.e. 2,20,000 unit shares worth Rs. 2.2 crores have been allocated to project-affected locals of Lamjung District.

    29.55% of the company’s issued capital i.e. 650,000 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 65,000 units shares have been allocated for Nepalese citizens working abroad. The minimum application quantity for the project-affected locals is 10 units, while the maximum quantity is 100,000 units. Meanwhile, for Nepalese citizens working abroad, the minimum application quantity is 10 units, while the maximum quantity is 50,000 units.

    Siddhartha Capital Limited is the issue manager, and the promoter-public share ratio will be 60.45: 39.55 after this IPO. The issuer rating of Upper Syange Hydropower Limited has been reaffirmed as ‘CARE-NP BB (Is)’ by CARE Ratings Nepal Limited (CRNL), indicating a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

    Upper Syange Hydropower is a Public Limited company that is setting up a 2.4 MW Run-of-River (RoR), Upper Syange Hydropower Project (USHP) in BOOT (Build, own, Operate, and Transfer) mechanism. It was incorporated on January 26, 2009, as Upper Syange Hydropower Private Limited and converted to Public limited on March 30, 2017. The project is located in the Lamjung district of Nepal and is promoted by both individual and institutional promoters from different backgrounds.

  • Citizens Capital Limited Closes “Citizens Super 30 Mutual Fund” Issue to General Public

    Citizens Capital Limited Closes “Citizens Super 30 Mutual Fund” Issue to General Public


    Citizens Capital Limited has announced the closure of its mutual fund scheme, “Citizens Super 30 Mutual Fund”, to the general public from 20th Baisakh, 2080. The issue was opened on the 6th of Baisakh and was supposed to close on the 10th of Baisakh, 2080. However, as the issue manager didn’t receive enough applications, the issue was extended until the 20th of Baisakh.

    Out of a total of 10 crore unit shares, 1.50 crore units worth Rs. 15 crores have been allocated to the fund promoter, Citizens Bank International Limited, while the remaining 8.5 crore units are for the general public. The fund will be traded in the Nepal Stock Exchange (NEPSE) and has a maturity period of 10 years. Interested applicants can apply for a minimum of 100 units and a maximum of 10,000,000 units.

    According to the CDSC, a total of 15,683 applicants have applied for 47,295,800 units worth Rs. 47.29 crore so far. This indicates a good response to the scheme, even though the issue was extended due to insufficient applications.

    Citizens Capital Limited currently manages two closed-end funds in the market, Citizens Mutual Fund-1 (CMF1) and Citizens Mutual Fund-2 (CMF2). The closure of the Citizens Super 30 Mutual Fund scheme is expected to be beneficial for investors looking to invest in a diversified portfolio and achieve long-term financial goals.

  • Citizens Mutual Fund 1 Reports NAV and Net Profit Increase in Chaitra

    Citizens Mutual Fund 1 Reports NAV and Net Profit Increase in Chaitra


    Citizens Mutual Fund-1 (CMF1), a 7-year closed-end mutual fund scheme, has released its monthly report for Chaitra 2079.

    According to the report, a mutual fund’s Net Assets Value (NAV) fell slightly from Rs. 9.18 to Rs. 9.19. The program, which began with a sum of Rs. 82 crores, has invested Rs. 48.38 crores in listed company shares and Rs. 4.91 crores in non-listed company shares. This program invested Rs. 3 crores in fixed-income assets, Rs. 15.86 crores in debentures, and Rs. 3.4 crores in bank balance.

     

  • The application deadline for the “Citizens Super 30 Mutual Fund” has been extended till Baisakh 20.

    The application deadline for the “Citizens Super 30 Mutual Fund” has been extended till Baisakh 20.


    Citizens Capital Limited has extended the deadline for the general public to invest in the mutual fund scheme “Citizens Super 30 Mutual Fund” until the 20th Baisakh, 2080. The problem began on the 6th of Baisakh and was intended to end today, the 10th of Baisakh, 2080. However, because the problem manager did not get a sufficient number of applications, the deadline has been extended until Baisakh 20.

    15% or 1.50 crore units worth Rs. 15 crores have been allotted to the fund promoter Citizens Bank International Limited, with the remaining 8.5 crores going to the general public.

     

  • Citizens Super 30 Mutual Fund"s Public Offering

    Citizens Super 30 Mutual Fund"s Public Offering


    Citizens Capital Limited is launching a closed-end mutual fund scheme called “Citizens Super 30 Mutual Fund.”The issue will be open starting today, the 6th of Baisakh, and will close on the 10th of Baisakh, 2080. If the issue is not completely subscribed by the early closing date, it may be extended until Baisakh 20. 15% or 1.50 crore units worth Rs. 15 crores have been awarded to the fund promoter Citizens Bank International Limited, with the remaining 8.5 crore units being issued to the general public beginnin