KATHMANDU

An Initial Public Offering (IPO) Issue Management Agreement was signed today between Siddhi Hydro Company Limited and Citizens Capital Limited in a program held at Dillibazar, Kathmandu. The agreement was signed by Mr. Santosh Raj Nepal, who is the Managing Director of Siddhi Hydro Company Limited, and Mr. Sabir Bade Shrestha, CEO of Citizens Capital Limited.

As per the agreement, Citizens Capital Limited (a subsidiary of Citizens Bank International Limited) will manage the IPO of Siddhi Hydro Company Limited for the issuance of ordinary shares to affected locals and to the general public as well.

Siddhi Hydro Company Limited is developing its project, ‘Siddhi Khola Jalbidhyut Ayojana,’ at Ilam District, which is a 10 MW project.