Sopan Pharmaceuticals Limited has opened its IPO for the general public from today (Thursday).
After completing the allotment of shares issued in the first phase to Nepalis working in foreign employment, the company has moved to the second phase for public investors.
The company had received approval to issue 25% of its issued capital of NPR 1.716 billion, equivalent to NPR 429 million, i.e., 4.29 million shares.
Out of this:
10% (429,000 shares) were already issued and allotted to Nepalis in foreign employment with valid labor approval.
171,600 shares were allotted to company employees.
214,500 shares were allotted to mutual funds.
In the second phase, the company is issuing the remaining 3,474,900 shares worth NPR 347.49 million at a face value of NPR 100 per share to the general public.
Investors can apply for a minimum of 10 shares and a maximum of 11,000 shares.
The application deadline is Baisakh 6. If all shares are not subscribed by then, the deadline will be extended until Baisakh 16.
The company has received a ‘CARE-NP B Issuer Rating’ from CARE Ratings Nepal Limited, indicating a high risk in the company’s capacity to meet its financial obligations.
The issue and sales manager for the IPO is NMB Capital Limited.
Investors can apply through all ASBA-approved banks and financial institutions authorized by the Securities Board of Nepal, their designated branches, or online via the ‘Mero Share’ system developed by CDS and Clearing Limited using the C-ASBA system.
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