October 13, 2023 | Investopaper
Apex Hospitality Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Ashwin 12, 2080 BS. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
If approved by SEBON, the company will sell 24,00,000 shares in the initial public offering (IPO). At a par value of Rs. 100, the total public issue amounts to Rs. 24 crores.
In the first phase, the company will sell the shares to the foreign-employed Nepalis. Likewise, in the second phase, the company will float shares to the general public, including the employees of the company and the mutual fund schemes.
The company has appointed Himalayan Capital Limited as issue and sales manager for the IPO. An agreement for public offering has been reached between the company and Himalayan Capital Limited on this regard.
About Apex Hospitality Limited
Apex Hospitality Limited was established on August 11, 2017. The company owns and manages a six-story commercial building that hosts two movie theaters, operating under the franchise of “QFX Movies.”
AHL is in the process of constructing a two-star hotel with 34 rooms. The major shareholders of the company are:
Suman Shrestha (33%),
Mukunda Prasad Timilsina (15%), and
Sudhir Prasad Timilsina (15%).