Finally, the patience of investors on IPO Allotment of Arun Valley Hydropower has ended today at early morning. The IPO of Arun was issued public on 9 to 12 Ashad 2066 (23 to 26 June, 2009) adding premium of Rs. 84 at Rs. 184 per share. Company can add premium equals to its net worth, if it is in profit and has distributed cash dividend for three consecutive years, according to new Securities Board of Nepal (SEBON) regulation. Arun Valley has distributed cash dividend for the last three successive years and it has distributed 20 per cent cash dividend last fiscal year.
Arun Valley established in 1997 aims to develop, build, own and operate hydropower projects and has formed joint ventures with companies to build medium and large hydropower projects and develop entrepreneurship for the promotion of the hydropower sector's currently-owned Piluwakhola Hydro Project (3MW). Currently, there are only three listed hydropower companies, National hydropower, Butwal hydropower and Chilime hydropower at Nepal Stock Exchange (NEPSE). After Arun Valley's listing, there will be four hydropower companies.
Arun valley, which issued 515,000 units of share at Rs. 184, allotted its IPO result on 49th day of IPO issue closing. According to SEBON provision on IPO allotment, there is minimum of 40 days and maximum of 70 days to allot the public issue after the closing date. Companies have to allot within 40 days after IPO closing if the number of application is less than 100000. Likewise, if application is between 100000-200000 allotment within 50 days, 200000-300000 within 60 days and if the number of application exceeds 300000, maximum days of allotment will be 70 days. As a result, Arun has allotted on 49th day as it had 110737 numbers of applicants. The total applicants demanded 14284480 units of share, however only 28502 applicants get a hold on share of Arun Valley. The figure excludes disqualified applicants. There are 601 disqualified applicants demanding 79423 units of share.
Arun Valley established in 1997 aims to develop, build, own and operate hydropower projects and has formed joint ventures with companies to build medium and large hydropower projects and develop entrepreneurship for the promotion of the hydropower sector's currently-owned Piluwakhola Hydro Project (3MW). Currently, there are only three listed hydropower companies, National hydropower, Butwal hydropower and Chilime hydropower at Nepal Stock Exchange (NEPSE). After Arun Valley's listing, there will be four hydropower companies.
Arun valley, which issued 515,000 units of share at Rs. 184, allotted its IPO result on 49th day of IPO issue closing. According to SEBON provision on IPO allotment, there is minimum of 40 days and maximum of 70 days to allot the public issue after the closing date. Companies have to allot within 40 days after IPO closing if the number of application is less than 100000. Likewise, if application is between 100000-200000 allotment within 50 days, 200000-300000 within 60 days and if the number of application exceeds 300000, maximum days of allotment will be 70 days. As a result, Arun has allotted on 49th day as it had 110737 numbers of applicants. The total applicants demanded 14284480 units of share, however only 28502 applicants get a hold on share of Arun Valley. The figure excludes disqualified applicants. There are 601 disqualified applicants demanding 79423 units of share.
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