Kathmandu. Adarsh Microfinance Financial Institution Limited has opened sale of ordinary shares to the public.
The company has opened sale of 67,000 units of initial public offering (IPO) worth Rs 6.7 million at a face value of Rs 100 per unit from today.
The company has secured 0.5 per cent of the total issued capital (two hundred and seven thousand shares) or 1,035 shares to the employees and five per cent or 3,350 shares of the issued shares to the collective investment fund for the purchase of the remaining 62,651 shares. It is mentioned in the invitation letter issued by the company that the general public can apply.
BOK Capital Market Ltd., the manager of securities issuance and sale of the company, said that the public can apply for purchase of shares by using MyShare online as well as banks and financial institutions and their branch offices which have been given permission by the Nepal Securities Board to provide CISWA facility.
CARE Rating Nepal has given ‘CRP B Plus IS’ grading to the company in the rating system as per the provision of credit rating during public issue of securities.