Samata Gharelu Laghubitta To Float 332,856 Shares In FPO | Appoints Muktinath Capital As Issue Manager
June 19, 2022 | Investopaper
Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) is planning to issue the Follow-on Public Offering (FPO). For this purpose, the company has appointed Muktinath Capital Limited as the issue and sales manager. Earlier, RBB Merchant Banking Limited was appointed as the issue and sales manager.
The company has already submitted the application to the Securities Board of Nepal (SEBON) on Chaitra 29, 2078 B.S seeking permission for public issuance. If SEBON provides the approval, only then the company can float the shares to the general public.
The company is going to sell 332,856 shares in FPO.
The company has also appointed NIBL Ace Capital Limited as the underwriter for the shares.
Samata Laghubitta and Gharelu Laghubitta merged in the share swap ratio of 100:80 to form ‘Samata Gharelu Laghubitta Bittiya Sanstha Limited’. In order to maintain the shareholding ratio at 70:30 (promoter-public), the company has decided the issue the FPO.
At present, the company has a paid-up capital of Rs 39.41 crores.
What Is FPO?
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.
You May Also Like:
