Nepal, Feb. 6 -- Hotel Forest Inn has issued an initial public offering (IPO), opening applications for the general public from Thursday under the second phase of issuance.

The company is offering 3.32 million shares to the public at a face value of Rs 100 per share, amounting to Rs 332 million. Investors can apply for a minimum of 10 shares and a maximum of 200,000 shares until Feb 9.

Earlier, the company had allotted 400,000 shares worth Rs 40 million to Nepalis working abroad. The IPO is part of the company's plan to issue 20 percent of its Rs 2 billion paid-up capital, equivalent to Rs 400 million, following regulatory approval.

For the IPO, Infomerics Credit Rating Nepal has assigned the company an IRN BB- issuer rating, indicatin...