Kathmandu. In the first phase, SY Panel Nepal has suspended the IPO issuance for residents of industry-affected areas and Nepalese working abroad.
The company had said that it will open the first phase of IPO sale from September 29. However, in view of the difficult situation in the country, the IPO issuance has been postponed for the time being until further notice.
The Securities Board of Nepal (SEBON) has approved SY Panel Nepal Limited (SEBON) to issue 5,232,548 units of shares at a face value of Rs 52,32,54,800 i.e. 40 per cent of the issued capital of Rs 1,30,81,37,100. Now, the company will issue a total of 2,61,627 units of shares at the face value of Rs 100 each to the affected residents (all wards of Ratnanagar Municipality of Chitwan).
Similarly, the company will issue a total of 4,97,092 units of shares at a face value of Rs 100 to the Nepalese working abroad. Applications can be place for minimum 10 units and maximum 50,000 units.
The interested bidders can bid for the IPO from Prabhu Capital’s Kathmandu-based office and Prabhu Capital’s Sauraha and Tandi branch of the bank.
Nepalese working abroad can apply for the IPO from all ASBA member banks and financial institutions and CDSC affiliated Mero shares.
Prabhu Capital has been appointed as the issue manager for the IPO of SY Panel Nepal.
