Kathmandu. Salapa Development Bank has received permission from the Securities Board of Nepal (SEBON) to issue an initial public offering (IPO).
The Securities Board of Nepal (SEBON) today granted permission to Salapa Development Bank to issue an initial public offering (IPO). With this approval, the bank will now issue an initial public offering (IPO) worth Rs 17.23 crore. As per the agreement, the bank will issue a total of 1,723,880 units of shares at a face value of Rs 100.
After the IPO issuance, the paid-up capital of Salpa Development Bank will reach Rs 52.23 crore. Presently, promoter shareholders have invested Rs 35 crore in the bank. After the IPO issuance, the promoter group will hold 67 percent stake in the bank while the general public will hold 33 percent.
Muktinath Capital Limited has been appointed as the issue manager for the IPO issuance.
