Kathmandu. SY Panel Nepal (SY Panels) is going to open its IPO from September 29. In the first phase, the company will open the IPO to the residents of industrial-affected areas and Nepalis working abroad.
The Securities Board of Nepal (SEBON) has approved SY Panel Nepal Limited (SEBON) to issue 5,232,548 units of shares at a face value of Rs 52,32,54,800 i.e. 40 per cent of the issued capital of Rs 1,30,81,37,100. As per the agreement, a total of 261,627 units of shares of face value of Rs 100 each will be issued to the affected residents of Ratnanagar Municipality of Chitwan.
Similarly, the company will issue a total of 4,97,092 units of shares at a face value of Rs 100 to the Nepalese working abroad. Applications can be place for minimum 10 units and maximum 50,000 units.
The interested bidders can bid for the IPO from Prabhu Capital’s Kathmandu-based office and Prabhu Capital’s Sauraha and Tandi branch of the bank.
Nepalese working abroad can apply for the IPO from all ASBA member banks and financial institutions and CDSC affiliated Mero shares.
The IPO will be issued for the affected locals on October 27 at the earliest and on October 27 at the latter. The IPO for Nepalis who are in foreign employment will close on September 15 at the earliest and at the latest, September 26 after the banking hours.
Prabhu Capital has been appointed as the issue manager for the IPO of SY Panel Nepal.
