Nepal Warehousing Company Limited Announces IPO for Foreign Nepalese Immigrants
Kathmandu, Nepal - October 10, 2080
Nepal Warehousing Company Limited (NWCL) is all set to open its Initial Public Offering (IPO) to foreign Nepalese immigrants, marking a significant opportunity for members of the Nepalese diaspora. The IPO issue will be available for subscription starting from today, the 10th of Kartik, and will run until the 24th of Kartik, 2080. It's important to note that there will be no extensions beyond the specified closing date for Foreign Nepalese Immigrants.
NWCL, a prominent player in the warehousing and logistics sector, has a total issued capital of NPR 68.75 Crores. Out of this capital, 20%, equivalent to NPR 13.75 Crores, will be made available to the general public in the form of 1,375,000 unit shares. This offering is slated to open in the near future. However, the company has already allocated 10% of these shares, amounting to 137,500 units, specifically for Nepalese citizens working abroad, and their IPO subscription phase commences today.
To break down the allocation further, out of the total 1,375,000 units intended for the general public:
Foreign Nepalese Immigrants: 137,500 units, constituting 10% of the total, will be open for subscription starting today, as an exclusive opportunity for Nepalese citizens living and working outside the nation.
Mutual Funds: 68,750 units, accounting for 5% of the total, will be reserved for mutual funds, providing an investment avenue for institutional investors and mutual fund managers.
Company Employees: 27,500 units, making up 2% of the total, will be set aside for the employees of NWCL as part of an employee stock ownership plan (ESOP).
General Public: The remaining 1,141,250 units, constituting the lion's share of the IPO, will be available to the general public, enabling Nepali investors to be part of this exciting offering.
Published by Himalayan Capital on 2080-7-10
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