Kathmandu. Trade Tower Limited is issuing primary general shares (IPO) from April 1, 2019. The company is going to issue an IPO for Nepalis in foreign employment.
The company has a issued capital of Rs 815.6million. It had received permission to issue 3,971,693 units of shares at a face value of Rs 100 per share worth Rs 397.169 million at a rate of 696 per cent. In the first phase, the company is issuing 397,169.30 units of shares worth Rs 39,716,930 for Nepalis in foreign employment after obtaining labour approval from the concerned bodies of the Government of Nepal.
Applicants will have to apply for a minimum of 10 units of shares and a maximum of 1,000 units of shares. Nepalis in foreign employment can apply for the company’s IPO till May 15.
ICRA Nepal has given the company a double B minus in the rating for the IPO issue. This indicates that there is moderate risk in the company’s ability to bear the liability.
Laxmi Sunrise Capital Limited is the issue manager of the company. Investors can apply online using the software ‘Mero Share’ developed by all ASBA member banks and financial institutions and their designated branch offices and CDS and Clearing Limited approved by the Securities Board of Nepal through the C-ASBA system.
