KATHMANDU, April 16: Sopan Pharmaceuticals has issued its initial public offering (IPO). After completing the first phase of share allocation to Nepali migrant workers, the company has opened the second phase for the general public starting Thursday.
A total of 3,474,900 shares worth Rs 347.49 million have been allocated for the general public. Investors can apply for the IPO at a face value of Rs 100 per share until April 21.
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The company had received approval from the Securities Board of Nepal to issue 4,290,000 shares worth Rs 429 million, which is 25 percent of its issued capital of Rs 1.716 billion.
For the IPO, the company received a CARE-NP B issuer rating from CARE Ratings Nepal, indicating a high risk in its capacity to meet financial obligations.
The issue manager for the IPO is NMB Capital.
As of the second quarter of the current fiscal year, the company’s net worth per share stands at Rs 92.95, while earnings per share are Rs 0.70. The company also has reserves totaling Rs 338 million.
