Kathmandu. Hotel Siraichuli Limited is going to issue an initial public offering (IPO) to the general public. The company has called its Annual General Meeting (AGM) to approve the IPO proposal.

The meeting of the Board of Directors of the company held on August 3 decided to hold the third AGM on August 30. According to the company, a special proposal for the IPO will be presented to the general public in the meeting.

The meeting will also discuss and approve a proposal regarding the utilization of the proceeds from the IPO and giving full authority to the Board of Directors to proceed with all the necessary processes for the IPO issuance. Similarly, the meeting will also endorse the financial statement, annual report and other regular proposals of the previous fiscal year.

Hotel Siraichuli Limited is preparing to involve the public in the ownership of the company through the IPO issue and use the capital received for business expansion and infrastructure development.