Suryodaya Womi Laghubitta To Float FPO | Submits Application To SEBON

September 12, 2023 | Investopaper

Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) is planning to issue the Follow-on Public Offering (FPO). For this purpose, the company has submitted the application to the Securities Board of Nepal (SEBON) on Bhadra 18, 2080 BS. If SEBON provides the approval, only then the company can float the shares to the public.

The company is going to sell 46,729.545 shares in FPO. At a par value of Rs. 100, the FPO amounts to Rs. 46.73 lakhs.

The company has already appointed Kumari Capital Limited as the issue and sales manager for the FPO.

Suryodaya Laghubitta and Womi Laghubitta merged in the share swap ratio of 1:1 and commenced joint operation from Chaitra 19, 2078 BS in the name of ‘Suryodaya Womi Laghubitta Bittiya Sanstha Limited’. In order to maintain the shareholding ratio at 70:30 (promoter-public), the company has decided the issue the FPO.

As of Ashad’s end 2080 BS, the company has a paid-up capital of Rs 91.07 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.

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