Siddhi Hydro and Citizens Capital reach agreement on IPO issue

KATHMANDU:Citizens Capital Limited and Siddhi Hydro Company have signed an agreement to issue ordinary shares and appointment a sales manager.

The agreement was signed by Santosh Raj Nepal, Managing Director for Siddhi Hydro Company Limited, and Sabir Bade Shrestha, Chief Executive Officer for Citizens Capital Limited.

According to the agreement, Citizens Capital Limited will serve as the selling manager for Siddhi Hydro Company Limited's initial public offering (IPO).

Siddhi Hydro Company Limited is constructing the 'Siddhi Khola Hydropower Project' in Ilam district. The project has a power generation capacity of 10 megawatts.