July 8, 2020 | Investopaper
Mirmire Laghubitta Bittiya Sanstha Limited is planning to issue Follow-on Public Offering (FPO). The company has appointed Nepal SBI Merchant Banking Limited as the issue manager for the FPO.
Mirmire Laghubitta has signed an agreement with Nepal SBI Merchant Banking Limited to issue 37,260 shares in the FPO.
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Roshni Bharti, Managing Director and Chief Executive Officer of Nepal SBI Merchant Banking Limited and Rajendra Prasad Neupane, Chief Executive Officer of Mirmire Microfinance Financial Institution Ltd. signed the agreement for the issue of shares through FPO.
Now, the company need to submit the application to the Securities Board of Nepal (SEBON). If SEBON approves, Mirmire Laghubitta can float the FPO to the general public.
FPO (Follow-On Public Offering) is the process of issuing shares to the public by the company already listed on the stock exchange. If the company issues shares to the public for the first time, it is IPO (Initial Public Offering). FPO is any additional issue of shares by the company after IPO.
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