The company is issuing 20 percent ordinary shares of its issued capital of Rs 1 billion. Accordingly, it will issue 2 million units of shares worth Rs 200 million to the ordinary shareholders.
Out of the total approved units, the company already issued and allocated 1 million units of shares worth Rs 100 million to the locals of affected area and 10 percent of general public quota i.e. 100,000 units of shares worth Rs 10 million to the foreign migrated workers.
Now in the second phase, after securing 20,000 units for employees and 50,000 units to mutual funds, the company is issuing 830,000 units of shares worth Rs 83 million to the general public.
The interested investors can apply for a minimum of 10 and maximum of 50,000 units of shares. The issue will close early on January 29 and lately on February 9.
ICRA Nepal has assigned B+ rating to the issuer indicating high risks.
The company has appointed Kumari Capital as issue manager. Interested investors can apply from all C-ASBA approved BFIs and Meroshare.
