KATHMANDU, March 26: A Further Public Offering (FPO) of Wean Nepal Laghubitta Bittiya Sanstha Ltd will open from April 3.
The company is issuing 51,292 shares worth Rs 5.129 million to the general public at a rate of Rs 100 per share. The issue manager for this offering is Nepal SBI Merchant Banking Limited
WEAN Nepal Laghubitta secures approval for FPO issuance
Applications can be submitted online through the MeroShare system from April 3 to 8. Investors can apply for a minimum of 10 shares and a maximum of 1,000 shares.
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.