Arghakhachi Cement to issue IPO next FY

Published On: September 2, 2021 05:47 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, Sept 2: Arghakhachi Cement has announced that it is moving forward with its plan to issue general shares in the next fiscal year.

Raju Poudel, chief finance officer of the company, said they have started homework to open the company’s shares in public. He, however, said that the exact date to issue the public offerings is yet to be made.

Arghakhachi Cement was converted to a public limited company last year. Three years ago, the company increased its production capacity to manufacture one million tons of cement annually. The company claimed that it was able to increase its sales by 18 percent even during 2020/21 despite the impacts of COVID-19 pandemic.

Meanwhile, the cement company has received certification of 43 grades for its OPC cement. Uddhav Karki, general manager of the company, said the Nepal Bureau of Standards and Metrology on Thursday approved NHS-572 certification allowing upgrading its products to 43 grades from 33 grades earlier.