Summit Laghubitta to Sell 7,51,712 Shares In FPO
December 17, 2021 | Investopaper
Summit Laghubitta Bittiya Sanstha Limited (SMFDB) is planning to issue the Follow-on Public Offering (FPO). The company is going to sell 7,51,712 shares in FPO at a premium over the par value of Rs 100. For this purpose, the company is taking the agenda of issuing FPO to its 13th AGM to be held on Poush 24, 2078 BS.
If the annual meeting provides the approval, the company will begin the procedures regarding the issue of FPO. First, it has to appoint an issue manager. Then, it needs to submit an application to the Securities Board of Nepal (SEBON) seeking permission for public issuance. If SEBON provides the approval, only then the company can float the FPO to the general public.
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.
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First time some one said FPO correctly.