KATHMANDU, SEPTEMBER 4

Omstone Hotels Limited, the operator of Dusit Thani Himalayan Resort in Dhulikhel, has appointed Citizens Capital Limited as the issue manager for its upcoming Initial Public Offering (IPO).

The agreement was signed Tuesday between Omstone Hotels Managing Director Ramesh Kumar Hamal and Citizens Capital CEO Sabir Bade Shrestha. The ceremony was attended by foreign investor Vishnu Mor.

Dusit Thani Himalayan Resort, operating since late 2023, is a flagship luxury property under Thailand's Dusit International chain. Positioned as a high-value integrated resort, it seeks to contribute to Nepal's tourism development.

Citizens Capital, backed by Citizens Bank, Employees Provident Fund, and private investors, will oversee the IPO process. The firm provides investment management and financial advisory services under the regulation of the Securities Board of Nepal.