Kathmandu : NIMB Ace Capital Limited and Mount Everest Power Development Limited have Signed a Securities Issuance and Sales Manager Service agreement for the issuance of 25,80,000 ordinary shares of Mount Everest Power Development Limited to local residents and the general public residing in the project-affected areas. The allocated shares will be 30 percent of its issued capital. The agreement was signed by Mr. Arjun Prasad Poudel, Chairman, on behalf of Mount Everest Power Development Limited, and Sachindra Dhungana, General Manager, on behalf of NIMB Ace Capital Limited.
Mount Everest Power Development Limited has been constructing the Dudhkunda Khola Hydroelectricity Project with a capacity of 12 Mega Watt using water from the Dudhkunda River. More than 80 percent of the construction work of the project which is located in Solukhumbu district has been completed.
Under the agreement, NIMB Ace Capital Limited will provide the services of Securities Issuance and Sales Manager in all operations related to the public issue and management of ordinary shares of Mount Everest Power Development Limited.