Kathmandu. Sopan Pharmaceuticals Limited is going to issue initial public offering (IPO) to the general public from April 15, 2083. In the second phase, the company is preparing to issue 34,74,900 units of shares at face value of Rs 100 per share. Prior to this, the company has allotted the shares allocated to Nepalis working abroad, employees and mutual funds.
The company was allowed to issue 42,90,000 units of shares worth 25% of its issued capital of Rs 1.71 billion. The remaining shares are open to the general public. Applications can be place for minimum 10 units and maximum 11,000 units. According to the company, the application period will be valid till April 20 and if the full application is not submitted within that period, the deadline will be extended till April 20.
NMB Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can apply for the shares from the banks approved by the Securities Board of Nepal (SEBON) and through the online system ‘Mero Share’.
CARE Ratings Nepal has assigned a rating of “CareNP Single B” to the company, indicating that it is at high risk in its ability to handle its liabilities. The company’s internal return is 23.63 percent.
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