Kathmandu. Trade Tower Limited is going to open the issue and sale of primary ordinary shares (IPO) from May 15. After the IPO allotment issued by the company for Nepalis in foreign employment, it is now going to issue an IPO for the general public.
The company had received permission to issue 3,971,693 units of shares at a face value of Rs 100 per share worth Rs 397.169 million at the rate of 48.696 per cent of the issued capital of Rs 815.69 million.
Out of this, the company is issuing 3,296,505.19 units of shares worth Rs 329,650,519 to the general public at a face value of Rs 100 per share.
In the first phase, the company has issued 397,169.30 units of shares to Nepalis in foreign employment, 198,584.65 units to mutual funds and 79,433.86 units to employees.
According to the company, a minimum of 10 units of shares will have to apply for the IPO and a maximum of 1,000 units can be applied. The issue will be closed at the earliest on May 15 and if the full application is not received within that period, the issue period will be till June 15.
Laxmi Sunrise Capital Limited is the issue manager of the company.
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