Accord Pharmaceuticals To Float 706,909 Shares In IPO

December 25, 2022 | Investopaper

Accord Pharmaceuticals Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has submitted the application to the regulatory body, Securities Board Of Nepal (SEBON) on Poush 4, 2079 BS.

If approved by SEBON, the company will float 706,909 unit shares to the general public. At a par value of Rs 100, the public issue amounts to Rs 7.06 crores.

The company has appointed Global Ime Capital as the issue manager and NIBL Ace Capital Limited as underwriter of shares. The agreement for public offering was inked by Mr. Bishal Pandit, Chairman Of Accord Pharmaceuticals and Mr. Sachindra Dhungana, on behalf of NIBL Ace Capital Limited.

Accord Pharmaceuticals Limited was incorporated in 2013 as a private limited company. It started commercial operation from February 2021. Mr. Bishal Pandit own 33 percent shares in the company while Mr. Krishna Prasad Kandel and Mr. Shreedhar Khanal hold 24 percent and 5 percent stake in the company.


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