Daunne Agro Farm to Issue IPO | Appoints Citizens Capital as Issue Manager
October 17, 2024 | Investopaper
Daunne Agro Farm Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has appointed Citizens Capital Limited as the issue and sales manager.
An agreement has been reached between the company and Citizens Capital on this regard. The agreement was signed by Binod Pokharel, Managing director of Daunne Agro Farm Limited and Sabir Bade Shrestha, Chief Executive Officer of Citizens Capital Limited.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON) after completing the necessary procedures. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
In the first phase, the company will issue shares to the foreign employed Nepalese. 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.
About Daunne Agro Farm Limited
Daunne Agro Farm Limited, established in March 2018, is poultry farming business involved in farming of ‘Layer Chicken’ and production of eggs. Kisan Dana Udhyog Private Limited is the major shareholder of the company with 29.4 percent stake.
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