Hotel Forest Inn Limited Opens IPO for Foreign Nepalese Immigrants From Today
Summary
Hotel Forest Inn Limited has opened its IPO for Nepalese citizens working abroad, offering 400,000 shares tied to its upcoming Holiday Inn hotel in Kathmandu.
Key Points
- Hotel Forest Inn Limited has opened an IPO from 4th Magh, 2082, targeting 400,000 shares for Nepalese citizens working abroad.
- The company is issuing 40 lakh shares to the public, 10% of which are reserved for the diaspora.
- The hotel under construction in Budhanilkantha, Kathmandu, will be a 5-star property with 102 rooms, branded Holiday Inn under IHG.
- The IPO issue manager is NIC Asia Capital Limited, and CARE Ratings Nepal Limited assigned a 'CARE-NP BB-' rating to the company.
