May 21, 2024

SEBON approved City Hotel IPO

SEBON approved City Hotel IPO

KATHMANDU, March 22:City Hotels Limited has been granted permission to conduct a general public initial public offering (IPO).

The Securities Board of Nepal (Sebon) has approved the hotel's initial public offering (IPO). The hotel's board of directors has approved the sale of 16 lakh 74 thousand ordinary shares worth Rs 16 crore 74 lakh at a nominal price of Rs 100 per share.

The hotel is about to issue to the general public 10% of its issued capital of 1 billion 674 million rupees. The institutions have paid 1 billion 50 million 66 million rupees, or 90 percent of the total.

From the 15th of Kartik 2078, City Hotel has opened a five-star hotel  Hyatt Place Kathmandu Soalteemode. Golyan Group of Pawal Golyan, who is also the chairman of NMB Bank, Kamlesh Aggarwal, Harishchandra Subedi and other well-known entrepreneurs and businessmen of the country have invested in the hotel.  There are 153 rooms in the five-star hotel.