Arghakhanchi Cement to Float IPO Through Book Building Process | Appoints NMB Capital as Issue Manager
April 15, 2024 | Investopaper
Arghakhanchi Cement Limited is planning to issue an initial public offering (IPO) through the book building process. For this purpose, the company has appointed NMB Capital as the issue and sales manager.
An agreement has been reached between the company and NMB capital on this regard. Raju Paudel, Chief Financial Officer of Arghakhanchi Cement and Dipesh Kumar Vaidya, Chief Executive Officer of NMB Capital have signed the agreement.
Book Building is an alternative method of the public offering. In this method, the issue manager or book runner creates, collects, and records the demand for securities from the investors to determine the true value of the securities. The issue manager or the underwriter determines the price of the public issue based on the demand from various potential investors.
Through Book Building Method, a company wishing to issue shares at a premium will be able to issue an Initial Public Offering (IPO) at more than Rs 100.
Now, the company needs permission from Securities Board of Nepal (SEBON) to float the shares.
Arghakhanchi Cement has already approved the agenda of issuing IPO from its 23rd annual general meeting (AGM) held on Magh 5, 2078 BS.
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