The company started issuing initial public offering to foreign migrated workers of Nepal from July 11.
The company obtained approval to issue 40 percent i.e. 231,000 units of ordinary shares worth Rs 23.1 million. Out of total approved units, the company has allocated 1,155 units to employees, 11,550 units to mutual funds. In the first phase, the company is issuing 23,100 units shares at a face value of Rs 100 to foreign migrated workers.
The interested investors can apply for a minimum of 10 and maximum of 5,000 units of shares.
ICRA Nepal has assigned B@ to the issuer indicating huge risks.
The company has appointed Nabil Investment Banking as its issue manager. The investors can apply from all C-ASBA approved BFIs.
