by Karuna Thapa
Kathmandu, February 16
Rashtra Utthan Microfinance Financial Institution’s ordinary share (IPO) has been opened from today.
The company has begun selling 850,000 initial public offerings (IPOs) at a face value of Rs. 100 per share, for a total value of Rs. 85 million. Mutual funds will receive 5% of the overall issue or 42,500 shares, and the issued capital will be 0.2 percent of 260 million, or 13,000 shares reserved for employees. They will be able to apply to start on the 4th of this month, according to the company’s press release.
The public has until February 20 to apply for a minimum of 10 lots and a maximum of 1,000 lots, and if the application is not received by that date, the eviction will be open until March 2, according to the company. The public can apply through ‘Mero Share’ online from banks and financial institutions and their branch offices that have been granted approval by the Nepal Securities Board to provide the CASBA facility, according to NIBL S Capital Limited’s issuance and sale manager.
The company has Rs. 500 million authorized capitals, Rs. 260 million in current issued capital, and Rs. 175 million in paid-up capital. Following the distribution of ordinary shares offered for public purchase through a statement, the company’s paid-up capital will reach 260 million.
