Kathmandu. The deadline to apply for the IPO of Trade Tower Limited has been extended. Now you can apply for the IPO till June 30. It is said that the government of Nepal has extended the deadline to apply for the IPO by a day after the Government of Nepal declared a holiday in the Valley for Bhoto Jatra on May 15.
The company has opened the issue and sale of primary ordinary shares from May 15. The company has issued the IPO for the general public after distributing the IPO issued for Nepalis in foreign employment.
The company had received permission to issue 3,971,693 units of shares at a face value of Rs 100 each worth Rs 397.169 million at the rate of 48.696 per cent of its issued capital of Rs 815.69 million. Of this, the company now has a face value of Rs 329.65 million with a face value of Rs 100 per share. A total of 19 units of shares have been issued for the general public.
In the first phase, the company has issued 397,169.30 units for Nepalis in foreign employment, 198,584.65 units for collective investment funds and 79,433.86 units for employees.
Applicants will have to apply for a minimum of 10 units of shares and a maximum of 1,000 units of shares.
ICRA Nepal has given the company a double B minus in the rating for the IPO issue. This indicates that there is moderate risk in the company’s ability to bear the liability.
Laxmi Sunrise Capital Limited is the issue manager of the company. Investors can apply online using the software ‘Mero Share’ developed by all ASBA member banks and financial institutions and their designated branch offices and CDS and Clearing Limited approved by the Securities Board of Nepal through the C-ASBA system.
