February 5: BPW Laghubitta Bittiya Sanstha is issuing its Initial Public Offering (IPO) to the Nepali citizens working in foreign countries from Sunday.
As per the latest provisions made by the Securities Board of Nepal(SEBON), out of the total shares to be floated to the general public, ten per cent has to be allocated to the Nepali citizens employed in foreign countries. Shares can be floated to the general public only after allotment is done to the migrant workers.
Laghubitta Bittiya Santsha is floating 97,000 units of shares worth Rs 97,00,000 , which is 32.33 per cent of the total issued capital of Rs 3 million. Of the 97,000 kittas of shares, 9,700 units of shares worth Rs 9,70,000 have been issued for migrant workers.
A total of 1500 units of shares have been reserved for employees of the company while 4,850 units of shares have been separated for mutual funds. Remaining 80,950 units of shares will be issued to the general public in the second phase.
Interested individuals can apply for a minimum of 10 units of shares while the maximum quantity of shares they can apply is 1,000 at a par value of Rs 100 per share. The offer will end on February 20.
Mega Capital Markets Limited is issue and sales manager of the laghubitta bittiya sanstha. Investors can apply for the IPO from issue manager and all C-ASBA member banks and financial institutions approved by Securities Board of Nepal (SEBON). Investors can also apply for the IPO through Mero Share.