KATHMANDU, June 9: Nepal Republic Media Limited (NRML) is issuing the Initial Public Offering (IPO) to the general public from today.
A total of 36,19,891units of the primary shares have been floated to the general public starting from Friday. According to the Issue Manager Mega Capital, prospective investors can apply for the IPOs from June 9 to June 13.
The company has informed that the issue will extend till June 23 if it remains under subscribed till that period. Prospective investors can apply for a minimum of 10 shares to a maximum of 500 shares for Nepal Republic Media's IPO.
The company had a total authorized capital of Rs 967.6 million. In the IPO program, 44.9922 percent of this capital, which is equivalent to Rs 435.3 million, was assigned with the face value of Rs 100 per share in the first phase to Nepalis working abroad and its own employees.
The IPO issued by Nepal Republic Media, which publishes Nagarik Daily and Republica English Daily, for Nepalis who are employed abroad, was allotted on Wednesday. The IPO was allotted through the round robin method in an event organized by the Sales Manager Mega Capital Markets. According to the Sales Manager, the IPO was allotted through the round robin method after being 'oversubscribed' due to people’s interest in Republic Media's IPO.
Nepal Republic Media Limited had issued 435,300 shares to Nepali workers who are employed abroad. According to Mega Capital, only 20,785 applications were eligible out of 20,791 applications for the IPO.
Out of the total shares allocated to the general public, 174,120 shares, which makes four percent, have been allocated to the employees and five percent i.e. 217,650 shares have been allocated to the mutual funds.