September 24, 2023 | Investopaper
Star Hospital Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has appointed Muktinath Capital Limited as issue and sales manager.
The agreement for public offering was inked by Mr. Kishor Kumar Maharjan, Executive chairman of Star Hospital and Mr. Kabindra Dhoj Joshi, CEO of Muktinath Capital Limited.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON) seeking permission to issue the shares. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
If approved by SEBON, the company plans to sell 40 lakh shares to the public. At a par value of Rs. 100, the public issue amounts to Rs. 40 crores.
In the first phase, the company will issue shares to the foreign employed Nepalis. Likewise, after the first phase, it will sell shares to the general public, including the mutual fund schemes and the employees of the company, in the second phase of the IPO.
About Star Hospital Limited
Star Hospital Limited, founded in March 2007, is a hospital with 100 beds located in Sanepa Lalitpur.
It provides an extensive array of medical, surgical, and diagnostic services. Initially established as a private limited company, it transitioned to a public limited company in 2010