SEBON Approves FPO Shares of Unique Nepal Laghubitta; Company to Issue 3.79 Lakh Unit Shares

The Securities Board of Nepal (SEBON) has approved the Further Public Offering (FPO) of Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) on Baisakh 21, 2080.

UNLB is coming out with 379,425 units of FPO shares. Like an IPO, the general public can apply for the shares at a par value of Rs. 100 per share which will raise Rs. 37,942,500 for the company. The current paid-up capital of the company is Rs. 110,632,500 which will increase to Rs. 14.85 crores after the issuance of mentioned FPO shares.

Muktinath Capital Limited has been appointed as the issue manager of the FPO. The application was submitted to SEBON on Chaitra 17.

Note that Unique Nepal Laghubitta previously planned to issue an IPO for 2.70 lakh shares. However, after a successful merger, Unique Nepal Laghubitta and Ghodighoda Laghubitta commenced their joint operation on 30th Poush, 2078 under the name of Unique Nepal Laghubitta Bittiya Sanstha Limited. Since Ghodighoda Laghubitta was a publicly listed company, the merged company will now issue an FPO instead to adjust its shareholding ratio. 

At present the promoter : public share structure is 94 : 6 ratio, which after this FPO will be 70 : 30 ratio.