The company obtained approval to issue 30 percent ordinary shares of its issue capital of Rs 373 million. As per the approval, it can issue 1,119,000 units of shares worth Rs 111.9 million.
Out of the total approved shares, it is issuing 186,500 units ordinary shares to locals of affected area of Okhaldhunga District, Kijidemba Rural Municipality ward no 8, all wards of former Bhusinga VDC and Solukhumbhu District, Likhupike Rural Municipality ward no 2, former Goli VDC ward no 1,2,3,4 and 5.
Moreover, the company is also issue 93,250 units which is 10 percent of general public quota to foreign migrated workers of Nepal.
The interested investors can apply for a minimum of 10 and maximum of 10,000 units of shares. The issue will close early on June 27 and lately on July 13 for locals of affected area, however, the foreign migrated workers are required to apply by June 27.
ICRA Nepal has assigned BB- rating to the issuer indicating moderate risks.
The company has appointed NIC Asia Capital as issue manager. the locals of affected area can apply from Likhupike branch of Citizens Bank International, Mahila Bhawan and Janaswastha Bhawan at ward no 8, Kijidemba Ruralmunicipality, Okhaldhunga District and ward office of ward no 2, Likhupike Rural Municipality of Solukhumbhu District by paying Rs 2 per form.
In the mean time, foreign migrated workers can apply from all C-ASBA approved BFIs and Meroshare.
