Everest Color IPO sale open, public can apply from today

Kathmandu, 22 June. Everest Color Limited has opened its initial public offering (IPO) to the general public. The company has started accepting applications for 655,700 shares from today. Earlier, under the first phase, the company had issued and distributed 79,000 shares of IPO from May 16th to May 22nd for Nepalis who are employed abroad. After the completion of the process, shares were issued to the general public in the second phase.

The company has set aside a portion of the issued capital for collective investment funds and employees. Out of the issued shares, 39 thousand 500 shares have been reserved for the collective investment fund and 15 thousand 800 shares for the company's employees. General investors can apply for a minimum of 10 shares and a maximum of 10,000 shares. The company has been awarded 'Care NP Double B Issuer Rating' by Care Rating Nepal. The rating indicates a moderate level of risk to the company's ability to meet its financial obligations on time.

The period for applying for the IPO will last until 27th May at the earliest. The company said that if the complete application is not received by that period, the sale period will be extended until June 5. Investors can apply through ASBA member banks and financial institutions and their branches approved by the Nepal Securities Board. Also, the facility of online application is also available through the 'My Share' system. Muktinath Capital Limited has handled the responsibility of the company's IPO issue and sales manager.