The company obtained approval to issue 1,452,000 units of shares worth Rs 145.2 million which is 20 percent of its issued capital of Rs 726 million.
Out of the approved units, the company already issued 10 percent i.e. 145,200 units of shares worth Rs 14.5 million to the foreign migrated workers. Moreover, it allocated 5 percent i.e. 72,600 units to mutual funds and 43,560 units to employees.
Now in the second phase, the company is issuing 1,190,640 units of shares worth Rs 119 million to the general public.
The interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares by September 14. If the issue goes undersubscribed, the deadline will be extended till September 24.
Informetric Credit Rating Nepal has assigned B+ rating to the issuer indicating high risks.
The company has appointed Muktinath Capital as issue manager. the investors can apply from all C-ASBA approved BFIs and Meroshare.
