Mirmire Laghubitta Sanstha to Issue 1,23,816.45 Unit FPO Shares to General Public from Ashwin 25
Wed, Oct 4, 2023 10:37 AM on Latest, IPO/FPO News,
Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) has published an offer letter to issue its Follow on Public Offer (FPO) to the general public.
The company will be issuing 1,23,816.45 unit shares of Rs 100 face value from 25th Ashwin, 2080. The company intends to collect Rs 1.23 crore from this FPO. The early closing date of this issue is on 30th Ashwin and if the issue is not fully subscribed, it can be extended up to 7th Kartik, 2080.
According to the Banks and Financial Institutions Act of 2073 and the NRB, at least 30% of the issued capital should be retained by public shareholders in order for that the company will be issuing 1,23,816.45 units of FPO shares to the general public. At present, the promoter: public share structure is a 71:29 ratio, which after this FPO will be a 70: 30 ratio.
Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the FPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 1000 units.
CARE Ratings Nepal Limited (CRNL) has given the rating of CARE-NP BB- (Is) to Mirmire Laghubitta Bittiya Sanstha Limited. Issuers with this rating are considered to offer a moderate risk of default regarding the timely servicing of financial obligations, in Nepal.
