Snow Rivers has opened its Snow Rivers IPO starting March 23. The company is issuing shares to locals of affected areas and Nepalese citizens working abroad under its public offering plan.
The company is issuing 20 percent of its issued capital worth Rs 937.5 million. Out of this, 1,875,000 units of shares worth Rs 187.5 million are allocated to the general public.
Out of the total issue, 937,500 units worth Rs 93.7 million have been allocated to locals of affected areas. This includes 468,750 units for residents of ward no. 8 of Sirijunga Rural Municipality in Taplejung and another 468,750 units for wards 1–5 of Pathivara Yangwarak Rural Municipality and ward no. 1 of Hilihang Rural Municipality in Panchthar.
Additionally, 93,750 units worth Rs 9.3 million have been set aside for foreign migrated workers, which accounts for 10 percent of the general public quota.
Investors from the local category can apply for a minimum of 10 units and a maximum of 10,000 units, while foreign workers can apply for 100 to 1,000 units.
For locals, the Snow Rivers IPO will close early on April 6 and finally on April 21. For foreign migrant workers, the issue will close early on March 26 and finally on April 6.
Care Rating Nepal has assigned a BB- rating to the IPO, indicating moderate risk for investors.
The issue has been managed by Sanima Capital. Locals can apply through the issue manager’s office in Yamfudin, Nepal Bank’s Junga branch, NMB Bank, Sanima Bank, and Global IME Bank. Foreign workers can apply through all C-ASBA-approved banks and financial institutions and the Meroshare platform.
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