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IPO of Chilime Hydropower Company withheld
Published by Octron on June 14, 2009
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Primary share of Chilime Hydropower Company has been stopped. The Supreme Court has issued a notice to withheld IPO of Chilime up to 2066 Ashad 10 (24-June-2009). Primary issue of Chilime was opening from tomorrow (15-June-2009).
People from the affected areas of Chilime Hyropower Company had filed case against the issue of Chilime, indicating the company did not allot shares to them as per the earlier agreement. Previously, Chilime promised to provide 8 percent of the share out of offered 24% of common shares of the general public in Rasuwa district. However, Chilime later announced to provide only 5% of the public issue to the people from affected areas. CHCL had announced to issue 23,00,000 shares in public at premium of Rs. 223.70 and out of these, 2,15,200 shares are to be distributed to Chilime, Goljung and Syafru VDCs of Rasuwa district.
Chilime which was established with the national investment and capital (no international funds) has total capacity of producing 20MW electricity. The market price of company is around Rs 1200 at present.
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