Nepal Warehousing Starts Issuing IPO from Today

Nov 26, 2023 07:59 AM Merolagani

Nepal Warehousing Company is issuing initial public offering (IPO) to the general public from today, November 26.

The company obtained approval to issue 1,375,000 units of shares which is 10 percent of issued capital to the general public.

Out of it, it has already issued 10 percent i.e. 137,500 units of shares worth Rs 13.7 million to the foreign migrated workers in the first phase.

Similarly, the company allocated 27,500 units of shares to its employees and 68,750 units of shares to mutual funds. The company is now issuing the remaining 1.141.250 units of shares amounting to Rs 114.1 million to the general public.

Interested investors can apply for a minimum of 10 and maximum of 50,000 units of shares. The issue will close on early on November 29 and lately on December 10.

The company has appointed Himalayan Capital as issue manager. The investors can apply from all C-ASBA approved BFIs and Meroshare. 

Informetric Credit Rating has assigned BB rating to the issuer indicating moderate risks.

 

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