KATHMANDU, July 24: Abhiyaan Lagubitta Bittiya Sanstha Limited is going to open the issue and sale of its ordinary shares to the general public. The company is going to open the initial public offering (IPO) of 975,000 shares worth Rs 97.5 million at a nominal price of Rs 100 per share from 3rd August.
In the ordinary shares issued by the company, 0.5 percent of the total issued capital of Rs 92.5 million shares that is 12,500 shares will be given to the employees and five percent of the issued shares that is 48,750 shares will be reserved for the collective investment fund and the remaining 913,750 shares will be applied for by the general public, according to the invitation letter issued by the receiving company.
The general public can apply for the purchase of a minimum of 10 shares to a maximum of 3,000 shares until this August 7. If no applications are received by that period, the issue will remain open until August 17, the company said.
According to Muktinath Capital Limited, the issue and sales manager of the company, the general public can also apply for the purchase of shares through banks and financial institutions and their branch offices, which have been approved by the Nepal Securities Board to provide C-ASBA services, as well as online using 'Meroshare'.
Ikra Nepal has given the company 'Ikra NP IR BB' grading as per the provision of credit rating during the public issue of securities.