Nepal Republic Media is going to Issue IPO Shares to General Public & Nepalese Employed Abroad
In order to issue its Initial Public Offering (IPO) to Nepalese people working abroad & the general public. Nepal Republic Media Ltd has released an offer letter.
From the 26th to the 30th Jestha of 2080, the company will issue 35,25,930 unit shares to the general public, each with a face value of Rs 100.
In the meantime, 4,35,300 units of the IPO shares that will go on sale starting on Baisakh 31 and ending on Jestha 14, 2080, have been reserved for Nepalese people working overseas. It should note that for the general public, the issue may extend till Ashad 08 if the early closing date is not fulfill.
The issue, nevertheless, won’t continue through the early close date for Nepalese nationals who are employe overseas.
The company’s total issued capital is Rs. 96.75 crores, of which 44.99%, or 43,53,000 units, are reserve for the general public. Of the remaining 10%, or 4,35,300 units, are reserved for Nepalese nationals who are employed overseas.
Nepal Republic Media is going to Issue IPO Shares to General Public & Nepalese Employed Abroad
While 4%, or 174,120 units, have been reserved for company employees, 217,650 units, or 5% of the total offered shares, have been reserved for mutual funds. The general public will take up the 35,25,930 units that are left.
The IPO issuance’s issue manager is Mega Capital Markets. For both general and Nepalese citizens working abroad, the lowest application quantity is 10, while the maximum application number is 500 Units.
The first media industry to launch a public offering of stock (IPO) is Nepal Republic Media Pvt. Ltd.. The publishing company behind the newspapers Shukrabar Weekly, Republica English Daily, and Nagarik Nepali Daily.
About the Company
Originally known as New Republic Media Private Ltd when it was incorporate in August 2008. The company changed its name to Nepal Republic Media Ltd in June 2021. Distributing news through its many outlets is the company’s main goal. He (Mr Binod Raj Gyawali) created the business.
Nepal Republic Media Limited has received an issuer rating from Infomerics Credit Rating Nepal Limited (Infomerics Nepal) of IRN B+ (Is) [Single B Plus (Issuer)]. When it comes to the prompt service of financial commitments, issuers with this grade are thought to at a high risk of default.
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