Hathaway Investments Nepal Limited is going to issue primary shares (IPO) from Bhadra 21. The company is going to publicize shares with a face value of Rs 50 per share.
The company received permission from the Nepal Securities Board to issue 29 lakh 25 thousand ordinary shares with a face value of Rs 50 per share, which will be 12.50 percent of the issued capital of Rs 1.17 billion. Out of which, in the first phase, IPO has been issued and distributed for the Nepalese who are employed abroad after taking labor approval from the relevant agencies of Nepal government.
The company issued and distributed 292,500 shares worth 1 crore 46 lakh 25 thousand rupees to Nepalis who are in foreign government. Similarly, the company has reserved 58 thousand 500 shares worth Rs 29 lakh 25 thousand for employees and 1 lakh 46 thousand 250 shares worth Rs 73 lakh 12 thousand 500 for collective investment fund. The company is about to issue 24 lakh 27 thousand 750 shares worth Rs. 12 crore 13 lakh 87 thousand 500 to the general public.
In the company’s IPO, applications can be made for a minimum of 20 shares and a maximum of 100,000 shares in multiples of 20 points. General investors can apply for the company’s IPO by Bhadra 25. If the application is not received during that period, then the application deadline will be extended to Ashoj 4.
The company has Global IME Capital Limited as the issuing and selling manager for the IPO issue. Investors can apply online through ‘Mero Share‘ of all ASBA member banks and financial institutions and CDS and Clearing Limited approved by the Nepal Securities Board.
In the rating given by the company for the IPO issue, the credit rating organization ICRA Nepal has given the issuer rating ‘[ICRANP-IR] BBB-‘ rating. Which indicates that there is a moderate level of credit risk in the company’s investment.