Peace Energy Company Limited has appointed Machhapuchhre Capital Limited as the issue and sales manager for its Initial Public Offering (IPO). An agreement to this effect was signed today between the two parties to manage the IPO issuance and sales process.
The agreement was signed on behalf of Machhapuchhre Capital Limited by its Chief Executive Officer, Upendra Malakar, and on behalf of Peace Energy Company Limited by its Executive Chairperson, Dr. Madan Kumar Upreti.
The company plans to issue 20 percent of its issued capital, equivalent to 3.2 million ordinary shares, to the general public through the IPO.
Peace Energy Company Limited is currently developing the 28.1 MW Upper Kabeli Hydropower Project, utilizing water from the Kabeli River flowing through Sirijangha Rural Municipality in Taplejung district. More than 61 percent of construction work has been completed, and the company aims to connect the project to the national transmission grid by Kartik 14, 2083, in line with its construction schedule.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
