Salapa Bikas Bank has officially opened its IPO issuance starting today. This first phase is only for Nepalis working abroad who have received labour approval from the government.
From the total IPO, the bank has allocated 172,388 shares for migrant workers. These shares come from the portion reserved for the general public under the first phase.
Earlier, on Mangsir 8, the bank received approval from the Securities Board of Nepal to issue 1,723,880 shares at a face value of Rs 100 each, worth Rs 17 crore 23 lakh 88 thousand.
Breakdown of total shares
Out of the full IPO size:
• 5 percent (86,194 shares) is for mutual funds
• 0.50 percent (26,119 shares) is for employees
• 10 percent (172,388 shares) is for Nepalis working abroad
Migrant workers can apply for a minimum of 10 shares and a maximum of 25,000 shares. They can submit their applications through any ASBA-approved bank, financial institution, designated branches, or through the Mero Share online system.
Muktinath Capital Limited is managing the IPO issuance and sales process. After completing the first phase for migrant workers, the bank will launch the second phase for the general public. In this round, it plans to issue around 1,439,170 shares.
