Trade Tower Limited To Sell 11,58,960 Shares In IPO

July 21, 2022 | Investopaper

Trade Tower Ltd is in the process of issuing shares in the initial public offering (IPO). The company has submitted the application to Securities Board Of Nepal (SEBON) on Ashad 14, 2079 BS seeking permission to float the shares. Only after the approval from SEBON, the company can sell the shares to the general public.

If approved by SEBON, the company has plans to sell 11,58,960 shares in the public offering. At a par value of Rs 100, the public issue amounts to Rs 11.58 crores.

For for purpose of public offering, the company has already appointed Laxmi Capital Market Limited as the issue and the sales manager.

An agreement has been reached between the company and Laxmi Capital in this regard. Shiva Hari Dangal, Chairman of Trade Tower Limited and Rajiv Sapkota, CEO of Laxmi Capital inked the agreement.

As of Ashad’s end 2078 BS, the company has a paid-up capital of Rs 22.23 crores.

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