Securities Board of Nepal (SEBON) has given green signal to Nepal Republic Media Company for issuing Initial Public Offering (IPO). (SEBON) has approved the proposed IPO issue of Nepal Republic Media Limited on Baisakh 11, 2080 BS.
Nepal Republic Media Limited, the publication house of Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly is the first media sector to issue an IPO to the general public.
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Details of Nepal Republic Media IPO
The company will issue 4,353,000 equity shares at a par value of NPR 100 each. The amount of the issue is Rs. 43.53 Crore which represents 44.99% of the company’s outstanding issued capital while the promoter will hold the remaining 55.01% shares.
The total paid-up capital after the IPO allotment would be Rs 96.75 Crore of the company.
Mega Capital Market is selected as the issue manager for this IPO issuance.
First Phase IPO : Nepalese In Foreign Employment
The company is first issuing shares to the Nepalese in Foreign Employment from 31st Baisakh 2080 till 14th Jestha 2080.
It is issuing 4,35,300 shares in the first phase which is 10 percent of the general’s public quota.
Interested Foreign employed investors can apply for a minimum of 10 shares and a maximum of 500 shares.
Second Phase IPO : General Public
After completing the first phase, the company will release 39,17,700 shares to the general public, which includes both company employees and mutual fund schemes. The IPO to the general public will open on Jestha 26, 2080 BS and will remain open until Jestha 30, 2080 BS, provided it is fully subscribed. However, if the shares remain under-subscribed until that period, the application deadline will extend until Ashad 8, 2080 BS.
Out of the total shares available to the general public, the company will sell 1,74,120 shares to employees, and 2,17,650 shares will be sold to mutual fund schemes. Interested investors can apply for a minimum of 10 shares and a maximum of 500 shares.
What is Credit Rating of Nepal Republic Media Company.
According to Infomerics Credit Rating policy, Nepal Republic Media Limited is rated IRN B+ [Single B Plus (Issuer)] and is regarded as a high-risk issuer.
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