Nepal Wirehousing Company Limited is gearing up for an Initial Public Offering (IPO) for the general public.
Previously, the company had issued IPOs for Nepalis employed abroad. Now, they are set to release an IPO for the general public. The company is offering 13,75,000 shares at a face value of NPR 100 each, with a total value of NPR 13,75,00,000, at a 20% premium. In the first phase, the company had received approval to issue 1,37,500 shares at NPR 100 per share for Nepalis working abroad.
Furthermore, in support of their employees, the company is releasing 1,00,000 shares at NPR 1,37,50,000 and 68,750 shares for the Employee Investment Fund at NPR 68,75,000.
The remaining 11,41,250 shares, equivalent to NPR 11,41,25,000, will be available for the general public from the 10th of Mangsir. Interested individuals can apply for a minimum of 10 shares and a maximum of 50,000 shares.
The IPO application period is from Mangsir 10 to Mangsir 13. In case of under subscription , the sale will continue until Mangsir 24. Himalayan Capital Limited is the appointed manager for share issuance and sales. Investors can apply for shares through C-ASBA received banks, financial institutions, and through the online platform “Mero Share.”
Informatics Credit Rating Agency has given the IPO an IRBB double B minus rating, indicating a moderate risk in meeting the company’s financial obligations.