Hotel Forest Inn Limited has opened applications for its initial public offering (IPO), beginning with Nepalis employed overseas. The company has issued 400,000 shares worth Rs 40 million at a face value of Rs 100 per share. Eligible applicants can apply for 10 to 200,000 shares until January 22. The IPO represents 20 percent of the company’s issued capital of Rs 2 billion. After completing allotment to migrant workers, shares will be offered to the general public. Infomerics Credit Rating Nepal has assigned the company an IRN BB- rating, indicating moderate risk.
