Nepal’s Kantipur Television Network Limited has announced plans to issue an initial public offering (IPO) worth Rs75 million (US$580,000) with added premium to the shares.

Kailash Sirohiya, Chairman and Managing Director of KTV, announced on 14 July that the IPO would be issued soon, The Kathmandu Post reports.

KTV has appointed Sanima Capital as its issue manager.

Mr Sirohiya and Bhism Raj Chalise, chief executive officer of Sanima Capital, signed the agreement on behalf of their respective organisations at a function in Kathmandu to mark the television’s 19th anniversary.

Established in July 2003, Kantipur Television is Nepal’s first privately owned television channel to offer a wide range of content via terrestrial stations and satellites.

The channel started with a seven-hour regional broadcast for the Kathmandu Valley and quickly became one of Nepal’s most popular TV channels.