Kathmandu. Time Pharmaceuticals is preparing to launch an IPO through the book building method.
The company has proposed to issue an IPO through the book building method in the special general meeting. The company’s board of directors has decided to organize the special general meeting on Baisakh 11. The meeting will begin at 12:30 noon at the company’s industrial premises in Gaindakot-10 Bhaisakhori.
The same meeting will pass a special resolution to issue an IPO through the book building method and utilize the proceeds from the IPO sale. The meeting will also approve another special resolution to give the board of directors the responsibility of carrying out the entire process required to issue the IPO.
The meeting will approve a special resolution to increase the current issued capital from Rs 429,111,800 to Rs 460 million. The meeting will approve a proposal to distribute 79.35 percent of the issued capital to the founders and 20.65 percent to the general public.
The meeting will pass a special resolution to form a board of directors of 7 members, including 1 woman from the founders, 1 from the general public and 1 independent, and to amend the regulations accordingly.
