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Nepal Warehousing Company Limited is currently issuing shares in the Initial Public Offering (IPO)

In the first phase of the IPO, the company is floating 1,37,500 shares to the foreign-employed Nepalis (10% of general public’s quota) from Karthik 10, 2080 BS. The IPO to foreign-employed Nepalis will close on Karthik 24, 2080 BS.

Interested foreign-employed Nepalis can apply for a minimum of 10 shares and a maximum of 50,000 shares.

For this purpose, Securities Board Of Nepal (SEBON) has given the permission to the company on Ashwin 10, 2080 BS. The company had submitted the application to the board on Poush 22, 2079 BS. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.

After the first phase, the company will sell 12,37,500 shares to the general public in the second phase of the IPO. This includes 27,500 shares reserved for the employees of the company and 68,750 shares reserved for the mutual fund schemes.

In total (including the first and second phase), the company plans to issue 13,75,000 shares in the public offering. At a par value of Rs 100, the IPO amounts to Rs. 13.75 crores.

The company has already appointed Himalayan Capital Limited as issue and sales manager. An agreement has been reached between the company and Himalayan Capital on this regard. The agreement was signed by Mr. Parmeshwar Pant, Chief Executive Officer of Himalayan Capital and Mr. Jay Mukunda Khanal, CEO of Nepal Warehousing Company Limited.

Nepal Warehousing Company Limited caters to the warehousing needs of the farmers, traders, millers and businessmen who deal in trade of grains for their commercial and industrial purposes. The company has installed capacity of 55,000 metric tonnes in three different places located at Province 1, Madhes Province and Lumbini Province.

After the IPO (if fully subscribed), the general public will possess 20 percent shares in the company while the promoters will hold the remaining 80 percent shares.

https://www.investopaper.com/news/nepal-warehousing-company-ipo/

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