The company obtained approval to issue 30 percent ordinary shares of its issue capital of Rs 373 million. As per the approval, it is issuing 1,119,000 units of shares worth Rs 111.9 million.
Out of the total approved shares, it issued 186,500 units to ordinary shares to locals of affected area and 93,250 units which is 10 percent of general public quota to foreign migrated workers of Nepal. Similarly, it allotted 18,650 units to employees and 46,625 units to mutual funds. Now the company is issuing remaining 773,975 units to the general public.
The interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares. The issue will close early on July 11 and lately on July 22.
ICRA Nepal has assigned BB- rating to the issuer indicating moderate risks.
The company has appointed NIC Asia Capital as issue manager. The applicants can apply from all C-ASBA approved BFIs and Meroshare.
