KATHMANDU, March 17: A total of 17 companies related to the hospitality business have been looking forward to issuing their primary shares worth Rs 6 billion.
As per the records with the Securities Board of Nepal (SEBON), 14 of them under the tourism groups have applied at the regulator seeking permission to float their initial public offerings (IPOs). They have planned to come up with IPOs worth over Rs 5.21 billion. Other three companies are airline operators.
Of the companies in the pipeline, three five-star hotels have proposed to issue more than 1.745 million shares to the general public. Akama Hotel Limited is issuing 4,285,800 shares worth Rs 428.58 million.
24 companies preparing to issue IPOs worth Rs 6.5 billion
Varnabas Museum Hotel has applied to issue 3,960,000 shares worth Rs 396 million. Likewise, Hotel Ichchha Limited is also issuing 3,500,000 shares worth Rs 350 million.
Apart from this, Apex Hospitality has sought permission for 2.25 million shares, Annapurna Cable Car 4.34 million shares and Thamel Plaza Hotel and Suites 2.25 million shares. Mountain Glory Limited looks forward to issuing 4 million shares, Maulakali Cablecar 1,879,130 shares, Nagarkot Resort 1.5 million shares and Hotel Sabrina 4.704 million shares.
Holiday Inn Express has sought permission to issue 3.8 million IPOs, Atithi Resort and Spa 1.625 million units of IPOs and Hotel Park Land has sought permission to issue its IPOs of 1.5 million units.
In the aviation sector, three companies, Shree Airlines, Prabhu Helicopters and Kailash Helicopters have applied to issue their IPOs. According to the SEBON, Shree Airlines has asked for permission to issue its IPOs at a premium price of Rs 200 per unit.
Kailash Helicopters has sought permission to issue 350,000 units of IPOs at a premium price of Rs 327 per unit. Prabhu Helicopter has planned to issue 6.125 million units of primary shares worth Rs 612.50 million.
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