Kathmandu. Palpa Cement Industries is going to launch an initial public offering (IPO) from January 10.
In the first phase, the company is going to issue the IPO to the project-affected locals and Nepalis who are employed abroad.
The Securities Board of Nepal (SEBON) has allowed Palpa Cement to issue 7.5 million units of shares at a face value of Rs 750 million. The company will issue 1,875,000 units (5 percent of the issued shares) to the locals of West Nawalparasi (erstwhile Nawalparasi) and Palpa district.
Applications can be place for minimum 10 units and maximum 1,000,000 units. The locals can bid for the shares from Nabil Bank’s Tansen, Bardaghat, Bulibat and Gaindakot branches, Prabhu Bank Palpa, Bardaghat, Parasi and Beltari and Siddhartha Bank’s Palpa, Bardaghat and Parasi branches. Nepalis working abroad can apply for the ASBA service from the banks and financial institutions participating in the ASBA service and their designated branches as well as from CDSC’s My Share.
For locals, the IPO will be issued on January 22 at the earliest and on January 25, while for the Nepalese working abroad, the IPO will be closed on January 30 at the earliest and on January 22 for the latter.
Nabil Investment Banking Limited has been appointed as the issue manager for the IPO issuance.
