Nepal, April 30 -- Mount Everest Power Development Limited has launched its Initial Public Offering (IPO). In the first phase, the company has opened share sales from Thursday for project-affected locals and Nepali workers employed abroad.

The company has allocated 860,000 shares worth Rs 86 million at a face value of Rs 100 each for residents of the project-affected areas.

Among them, residents of wards 1 and 2 of Solududhkunda Municipality, classified as highly affected areas, will receive 344,000 shares worth Rs 34.4 million.

Similarly, residents of other wards of Solududhkunda Municipality, excluding wards 1 and 2, have been allocated 516,000 shares worth Rs 51.6 million.

Locals from the affected areas can apply for a minimum of ...