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The distribution of ordinary shares (IPO) issued to the general public from June 21st, Thursday, June 25th, to Tuesday, will be done in the morning (June 30th, Saturday). The issue and sale manager Prabhu Capital Limited has informed that the distribution of the IPO will be held on Saturday morning at 11 am. According to Capital, the IPO will be held at Capital’s office in CTC Mall Sundhara, Kathmandu.
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By the last day of the company’s IPO, 12 lakh 90 thousand 741 investors have applied for a total of 1 crore 57 lakh 87 thousand 150 shares. This is 1.64 times more applications than the general public.
Since there are more applications than the demand, the company’s IPO will be distributed through the Gaela system. 960,000 investors will get shares during distribution through the Gaela system. The remaining 333,741 investors will be left empty-handed.
The company brought 12 million shares for IPO sale at the rate of 236 rupees 91 paisa by adding a premium of 136 rupees 91 paisa per share. In the first phase, 10 percent i.e. 12 lakh shares were issued to Nepalis who are employed abroad. Likewise, 5 percent i.e. 600,000 shares were reserved for employees and 5 percent i.e. 600,000 shares were reserved for the collective investment fund. The remaining 9.6 million shares were to be opened to the general public.
