Samling Power Company distributes shares to project affected areas

7th Oct, 2021 | Tourism Mail Crew

KATHMANDU, Oct 07: The shares allotted to the residents of the project-affected areas of Samling Power Company Limited have been distributed on Wednesday. The ordinary shares issued from September 3 to August 1 were distributed on Wednesday.

Under the disposal and sales management of Nepal SBI Merchant Banking Limited, Samling Power Company distributed ordinary shares to the residents of most project-affected areas of Ilam Municipality including 8 and 10 wards and Maijogmai Village Municipality.

There were 3,255 eligible applications for the shares allotted to the project most affected groups. Applicants from the project most affected group have received minimum 10 lots and maximum 80 lots of shares. There were 17,789 eligible applications for the shares allotted to the project affected groups. Applicants from the project-affected group have received a minimum of 10 lots and a maximum of 20 lots of shares.

The company had issued a total of 500,000 ordinary shares with a face value of Rs 100 per share. Along with the distribution of ordinary shares in the first phase, the company has also started final preparations to issue ordinary shares to the general public.

The company has completed the entire construction work of 9.51 MW Hydropower Project from Maibeni Hydropower Project in Ilam District and has started commercial production from September 17, 2021 accordingly.