NIMB Ace Capital to provide securities issuance and sales management services to Mount Everest Power Development

KATHMANDU: NIMB Ace Capital and Mount Everest Power Development have entered into a Securities Issuance and Sales Manager Service agreement to issue 2,580,000 ordinary shares of Mount Everest Power Development to the general public and residents affected by the project. 

The shares allocated will constitute 30% of its issued capital. The agreement was signed by Arjun Prasad Poudel, Chairman, on behalf of Mount Everest Power Development, and Sachindra Dhungana, General Manager, on behalf of NIMB Ace Capital.

Mount Everest Power Development is constructing the Dudhkunda Khola Hydroelectricity Project with a capacity of 12 Mega Watts, utilising water from the Dudhkunda River. Over 80% of the construction work of the project situated in Solukhumbu district has been completed.

According to the agreement, NIMB Ace Capital 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.