Emerging Nepal Allots IPO, Lucky 8 Provided 11 Units

Feb 16, 2022 04:22 PM Merolagani

Emerging Nepal has allotted the recently issued initial public offering (IPO) in the premises of NIC Asia Capital, issue manager for the company.

The company had received 26,430,330 applications for shares worth Rs 2.64 billion from 2,331,258 applicants.

Out of the total application, 2,552 applications were cancelled due to errors. The IPO was oversubscribed by 51:15 times.

As the issue was oversubscribed, the allotment took place as per Securities Issuance and Allotment Guidelines, under which, 51,670 applicants were provided 10 units of shares through lottery. Out of them, 8 applicants were provided an additional one unit of share through lottery.

 

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