KATHMANDU, March 12: Sopan Pharmaceuticals Limited is set to issue its initial public offering (IPO), with the first phase opening for Nepali migrant workers from March 23.
The company has allocated 429,000 shares specifically for Nepalis employed abroad. Investors will be able to apply for shares at the par value of Rs 100 per share, with applications allowed for a minimum of 10 shares and a maximum of 11,000 shares.
According to the issue manager, the application deadline is March 26.
Aero Pharmaceuticals to issue IPO
The company plans to issue the IPO to the general public in the second phase.
Sopan Pharmaceuticals has received approval to issue 4.29 million shares worth Rs 429 million, equivalent to 25 percent of its issued capital of Rs 1.716 billion.
For the IPO rating, Care Ratings Nepal has assigned the company a CareNP B issuer rating, indicating a high risk in the company’s ability to meet its financial obligations.
The IPO issue manager is NMB Capital.
