Trade Tower opens its Initial Public Offering (IPO) for public applications starting today

Kathmandu – Trade Tower Limited has opened its Initial Public Offering (IPO) from today, Baisakh 8 (April 21). The IPO issuance is specifically targeted toward Nepali citizens currently working abroad.

The company has received regulatory approval to issue 3,971,693 units of shares at a face value of NPR 100 each, amounting to NPR 397,169,300, which is 48.696% of its total issued capital of NPR 815,609,700.

In the first phase, the company is issuing 397,169.30 units of shares worth NPR 39,716,930 exclusively for Nepalis who are employed overseas and have received labor approval from the Government of Nepal.

Interested investors can apply for a minimum of 10 shares and up to a maximum of 1,000 shares. The application window for Nepalis working abroad will remain open until Baisakh 22 (May 4).

Laxmi Sunrise Capital Limited is the issue manager for this IPO. Eligible investors can apply through all ASBA-approved banks and financial institutions, their designated branches, or via the “Mero Share” online platform developed by CDS and Clearing Limited using the C-ASBA system.

As for the credit rating, ICRA Nepal has assigned the company a rating of [ICRANP-IR] BB-, indicating a moderate risk in fulfilling financial obligations.