Trade Tower to issue IPO from today

Kathmandu. Trade Tower Limited is going to open the issue and sale of primary general shares (IPO) from Today. The company is going to issue the IPO for the general public after distributing the IPO issued for Nepalis in foreign employment.

The company had received permission to issue 3,971,693 units of shares at a face value of Rs 100 each worth Rs 397.169 million at the rate of 48.696 per cent of its issued capital of Rs 815.69 million. Out of this, the company is issuing 3,296,505.19 units of shares worth Rs 329.65 million to the general public at a face value of Rs 100 per share.

In the first phase, the company has issued 397,169.30 units for Nepalis in foreign employment, 198,584.65 units for collective investment funds and 79,433.86 units for employees.

Applicants will have to apply for a minimum of 10 units of shares and a maximum of 1,000 units of shares. Applications for the IPO can be submitted at the earliest till June 15, while if the full application is not received within that period, the application can be submitted till June 30.

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.

Trade Tower to issue IPO from today

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