FPO of Swabalamban Laghubitta rejected by Nepal Rastra Bank
February 20, 2019 | Investopaper
Nepal Rastra Bank has rejected the FPO of Swabalamban Laghubitta, as informed on Nepal Stock Exchange. The microfinance had approved the 10,48,148 units of FPO through its 17th Annual General Meeting (AGM). The 17th AGM was held on Poush 26,2075.
The current ratio of promoter to public share in the paid-up capital structure is 70:30. Through the issue of Further Public Offering (FPO) and the conversion of 6,60,333 promoter shares to ordinary shares, the company is planning to reduce the ratio to 51:49.
However, both the proposition has been disapproved by the central bank. This was informed by the microfinance on NEPSE.
To see the notice click the link below:
