KATHMANDU, June 1: The Trade Tower Limited’ Initial Public Offering (IPO) has been oversubscribed by 5.84 times as of Sunday.
According to CDS and Clearing Limited, as of Sunday morning at 10:06 am, 1.67 million applicants have applied for 19.274 million shares. This is 5.84 times the demand for the shares allocated to the general public.
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Trade Tower Limited opened its IPO to the public on May 28, offering 3.29 million shares at a face value of Rs 100 per share. This represents 48.696 percent of the company’s total issued capital of Rs 815.6 million.
Of the total shares, 10 percent (397,169 shares) were allocated to Nepali citizens working abroad, which have already been issued. The remaining shares are open to the general public.
The general public can apply for this IPO until June 2. Applicants can request a minimum of 10 shares and up to a maximum of 1,000 shares.
Applications can be submitted through banks and financial institutions providing C-ASBA services or via the Meroshare platform. The issue manager for this IPO is Laxmi Sunrise Capital Limited.
