Kathmandu. SY Panel Nepal is going to open the IPO sale from September 15. In the first phase, the company is going to open the IPO sale for the residents of the industry-affected areas and Nepalis in foreign employment.
The Securities Board of Nepal (SEBI) has allowed SY Panel Nepal to bring a total of 5,232,548 units of IPO at a face value of Rs 100 each or 40 per cent of the issued capital of Rs 1.30 billion. A total of 261,627 units of shares at a face value of Rs 100, representing 2 per cent of the issued capital, will be open for the residents of the industry-affected areas (all wards of Ratnanagar Municipality of Chitwan).
Similarly, the company will issue a total of 497,092 units to Nepalis in foreign employment at a face value of Rs 100, representing 10 per cent of the shares to be issued publicly. Both groups can apply for a minimum of 10 units and a maximum of 50,000 units.
Residents of the industry-affected areas can apply for the IPO from the company’s office at Ratnanagar-14, the office of Prabhu Capital in Kathmandu and online built by Prabhu Capital and from The Sauraha and Tandi branches of Prabhu Bank.
Nepalis in foreign employment can apply for this IPO from all C-ASBA member banks and financial institutions approved by the Securities Board and my share of CDSC.
The ipo issued for the industry-affected locals will be closed at the earliest on October 15 and late on October 15. However, the ipo issue for Nepalis in foreign employment will be closed at the earliest on September 15 and late on October 12 after banking hours.
Prabhu Capital is the IPO sales manager of SY Panel Nepal.
