KATHMANDU, April 3: Wean Nepal Laghubitta Bittiya Sanstha Ltd has issued a Further Public Offering (FPO).
The company has issued 51,292 shares worth Rs 5.129 million starting from Thursday. Investors can apply for a maximum of 1,000 shares at a face value of Rs 100 each until April 8. The company had previously applied for an FPO last year in Chaitra, and the Securities Board of Nepal (SEBON) approved the company’s application in mid-January to mid-February (Magh).
Wean Nepal Laghubitta Bittiya’s FPO to open from April 3
The company is issuing the FPO to maintain a minimum 30 percent public shareholding. According to the Bank and Financial Institution Act, 2073 (2017), companies in this sector must allocate a minimum of 30 percent and a maximum of 49 percent of their shares to the general public.
As of the second quarter of the current fiscal year, the company has incurred a loss of Rs 12.4 million. Its annual earnings per share (EPS) stand at a negative Rs 31, while the net worth per share is Rs 91.23. Currently, the market price per share is Rs 2,902.