Hotel Forest Inn Limited Issuing IPO Shares to Nepalese Employed Abroad From Magh 04
Summary
Hotel Forest Inn Limited is issuing an IPO targeting Nepalese citizens working abroad, offering shares reserved for this group with NIC Asia Capital Limited managing the issue. The hotel, affiliated with Holiday Inn and located in Budhanilkantha, Kathmandu, is expected to open in October 2023.
Key Points
- Hotel Forest Inn Limited has issued an IPO offer specifically for Nepalese citizens working abroad starting 4th Magh, 2082.
- The company has set aside 10% of the public shares for Nepalese abroad with minimum and maximum application limits.
- NIC Asia Capital Limited is managing the IPO, and CARE Ratings Nepal Limited rated the company's long-term bank facilities as 'CARE-NP BB-'.
- The hotel in Budhanilkantha, Kathmandu, is under construction with 102 rooms and will operate under the Holiday Inn brand starting October 2023.
