Hotel Forest Inn Limited Closing 4,00,000 Units IPO Shares to Foreign Nepalese Immigrants From Today
Summary
Hotel Forest Inn Limited is closing its IPO issue of 400,000 shares reserved for Nepalese citizens working abroad, with the hotel expected to operate as a 5-star Holiday Inn in Kathmandu by October 2023.
Key Points
- Hotel Forest Inn Limited is closing the IPO issue of 400,000 shares for Nepalese working abroad on 8th Magh 2082.
- The IPO was oversubscribed 3.02 times with 76,678 applicants for 1,208,490 units.
- The hotel is constructing a 5-star property with 102 rooms in Budhanilkantha, Kathmandu, spanning 142,783 sq ft.
- The hotel will operate under the international brand Holiday Inn via a license agreement with InterContinental Hotels Group, starting October 2023.
