SY Panel Nepal to Float 5,232,548 Shares in Initial Public Offering (IPO)
October 12, 2023 | Investopaper
SY Panel Nepal Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has submitted the application to the Securities Board Of Nepal (SEBON) on Ashwin 19, 2080 BS. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
If approved by SEBON, the company will sell 5,232,548 shares in the initial public offering (IPO). At a par value of Rs. 100, the public issue amounts to Rs. 52.32 crores.
The company has appointed Prabhu Capital Limited as issue and sales manager for the IPO. The agreement for public offering was inked by Mr. Choi Dongil, Managing Director of SY Panel and Mr. Dinesh Thakali, Managing Director of Prabhu Capital Limited.
The company is planning to issue 40 percent of the total issued capital.
About SY Panel Nepal Limited
SY Panel Nepal Limited, established in Ashad 20, 2074 BS, is a subsidiary company of SY Co. Ltd. of South Korea which is Asia’s No. 1 Panel Manufacturer. The head office is located at Tinkune 2, Subidanagar, Kathmandu.
The company sells Korean Manufactured Panel, including Korean Sandwich panels, UPVC Windows, Steel doors & other subsidiary materials required for Panel Constructions in Nepal.
SY Panel Nepal currently operates 75 dealers across Nepal and has a panel production capacity of 5,000 square meters per day.
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