Samudayik Laghubitta to issue 300,000 units IPO shares from January 23

Kathmandu: Samudayik Laghubitta Bittiya Sanstha Limited is to issue its Initial Public Offering (IPO) of 300,000 unit shares worth Rs. 30 million from January 23, 2018.

The offer will close on January 26, 2018. The maximum closing date for the offer is February 20, 2018.

Interested investors must apply for a minimum of 50 units of share and they can apply for up to 1,500 units of share.

The microfinance company has set aside 4 per cent or 12,000 unit shares for its employees and 5 per cent or 15,000 unit shares for the existing mutual fund companies.

The company will be floating 2,73,000 units shares to general public.

Nepal SBI Merchant Banking Limited is the issue manager for IPO. The IPO of Samudayik Laghubitta will be the first public offering managed by Nepal SBI Merchant Banking Limited.

Interested applicants can collect ASBA forms from all ASBA-approved banks around Nepal as Securities Board of Nepal (SEBON) has made ASBA application mandatory from Shrawan 2074.

Samudayik Laghubitta is located at Kavrepalanchowk district of Nepal. At present, the microfinance company is rendering financial services through 32 branch offices.