Citizens Capital and Daunne Agro Farm Sign Agreement for Share Issue and Sales Management

Citizens Capital Limited and Daunne Agro Farm Limited signed an agreement to issue ordinary shares.

The agreement, signed by Mr. Binod Pokharel, Executive Director of Daunne Agro Farm Limited, and Mr. Sabir Bade Shrestha, CEO of Citizens Capital Limited, designates Citizens Capital as the sales manager for the share issuance.

Daunne Agro Farm, established in 2074, is the largest egg production company in Nepal, utilizing fully automatic air-conditioned technology from Germany and Malaysia.

The farm produces 1,700 cartons of "antibiotic-free" eggs daily from 400,000 layers, catering to urban and semi-urban areas. The company uses ERP software developed in Germany for operational management and aims to increase production to 2,600 cartons per day with a future capacity of 600,000 chickens.

Located in Binayi Tribeni Village, Nawalpur District, Gandaki Province, Daunne Agro Farm is also backed by the Nepal Opportunity Fund-1 from Aadhyanta Fund Management Limited. Citizens Capital Limited will advise on the share issuance and manage the IPO after obtaining approval from the Securities Board of Nepal.