microfinance IPO is coming
Lately, IPOs have been coming in the share market. Accordingly, CYC Nepal Microfinance Financial Institution is going to issue an IPO worth around Rs. 40 million.
Microfinance has applied to the board seeking permission to issue 3,95,336 shares worth Rs 39.53 million.
Microfinance has submitted a tender to the Nepal Securities Board (NSB) seeking permission to issue an IPO. Microfinance has filed an application on September 26 seeking permission to sell securities shares.
Global IPE Capital Limited is the IPO issuer and sales manager of the company. Now, the company will proceed with the IPO issue only after getting permission from the Securities and Exchange Board.
The ‘D’ class national level microfinance institution licensed by Nepal Rastra Bank, headquartered in Baglung Bazaar of Baglung, has recently acquired Shaligram Microfinance Institution, which has its head office in Beni, Myagdi district and is conducting microfinance business only in Gandaki, with the approval of Nepal Rastra Bank.