City Hotel announces to issue IPO to the public; appoints Global IME Capital as issuer and Issue Manager

25th Nov, 2021 | Tourism Mail Crew

KATHMANDU, Nov 25: City Hotel Limited, the promoter of Hyatt Place Hotel, which came into operation on November 11, is going to issue IPO to the public. For this, the company has appointed Global IME Capital as the issuer and sales manager.

The company has stated that it is going to issue shares at the rate of 10 percent of the issued capital to the general public (including the employees of the company and the collective investment fund).

Traders including Golyan Group, Kamlesh Agrawal and Harish Chandra Subedi have invested in the hotel. The 153-room hotel has a restaurant with live music, a banquet hall, gym, swimming pool and a conference hall with a capacity of up to 400 people.

As a chain brand of Hyatt Hotels Corporation in the United States, more than a thousand international standard Hyatt hotels have been established and operated in different countries of the world. The company has stated that Hyatt Place has come as the same international brand.

The agreement has been signed by Chairman Shakti Kumar Golyan on behalf of the company and Chief Executive Officer Parasmani Dhakal on behalf of Capital.