Trade Tower Limited Issuing IPO Shares to Foreign Nepalese Immigrants from Baishakh 8
Sun, Apr 13, 2025 9:33 AM on IPO/FPO News, Latest,
Trade Tower Limited has published an offer letter to issue an Initial Public Offering (IPO) to Foreign Nepalese Immigrants.
The IPO issue for the Foreign Nepalese Immigrants will open from the 8th Baishakh to the 22nd Baishakh, 2082. Note that the issue will not be extended from the early closing date for Nepalese citizens working abroad.
The issued capital of the company is Rs. 81.56 Crores, of which 48.696%, i.e., 39,71,693 unit shares worth Rs. 39.71 Crores, will be issued later for the general public. Of this public issue, 10% of the share, totaling 3,97,169.3 unit shares, has been allocated for Nepalese citizens working abroad, the issue of which will open on the date mentioned above.
LS Capital Limited has been appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 1,000 units.
ICRA Nepal has reaffirmed a [ICRANP-IR] BB-issuer rating for Trade Tower Limited (TTL), indicating a moderate risk of default in meeting financial obligations. The rating reflects overall creditworthiness and is not tied to any specific debt instrument.
Trade Tower Limited (TTL), established in 2007 and based in Thapathali, Kathmandu, is a public limited company engaged in leasing, financing, and infrastructure development. Its first project, Trade Tower Thapathali, has been operational since April 2011. TTL recently launched Hotel Crystal Pashupati, a three-star hotel in Gaushala, which began partial operations in mid-April 2024 with 49 out of 90 rooms and two conference halls. As of mid-October 2024, TTL is fully owned by over 350 promoters but plans to issue an IPO, reducing promoter holding to around 51%. Mr. Shiva Hari Dangal is the company’s major shareholder and chairman.
