KATHMANDU, July 24: Abhiyaan Lagubitta Bittiya Sanstha Limited will open the issue and sale of its common shares to the general public. The company will open an initial public offering (IPO) of 975,000 shares valued at Rs 97.5 million at a face price of Rs 100 per share from August 3rd.
As for the common shares issued by the company, 0.5 percent of the total issued capital of Rs 92.5 million shares, i.e. 12,500 shares, will be issued to the employees, and five percent of the issued shares, i.e. 48,750 shares, will be reserved for the mutual fund and the The remaining 913,750 shares will be applied for by the public pursuant to the letter of invitation from the absorbing company.
The general public can apply to purchase a minimum of 10 and a maximum of 3,000 shares until August 7th. If applications are not received by then, the issuance will remain open until August 17, the company said.
According to Muktinath Capital Limited, the company’s underwriting and distribution manager, the general public can also apply to purchase shares through banks and financial institutions and their branches approved by the Nepal Securities Board to provide C-ASBA services, as well as online with ‘ Meroshare’.
Ikra Nepal has ranked the company “Ikra NP IR BB” according to the provision of credit rating during the public issuance of securities.
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