Sopan Pharmaceuticals has opened its Sopan Pharmaceuticals IPO for foreign migrant workers from today, March 23, providing an early investment opportunity for Nepalis working abroad. The offering is part of the company’s plan to issue shares to the general public.
The company has received approval to issue 25 percent of its total issued capital of Rs 1.71 billion. Accordingly, it will issue 4,290,000 units of shares worth Rs 429 million.
Out of the total shares, 429,000 units worth Rs 42.9 million have been specifically allocated to foreign migrant workers. In addition, 214,500 units have been reserved for mutual funds and 171,600 units for employees. The remaining 3,474,900 units will be issued later to the general public.
Interested investors can apply for a minimum of 10 units and a maximum of 11,000 units. The issue will close early on March 26, and if not fully subscribed, it will remain open until April 9.
Applications can be submitted through all C-ASBA-approved banks and financial institutions, as well as via the Meroshare online platform. The issue manager for the IPO is NMB Capital.
Meanwhile, CARE Ratings Nepal has assigned a ‘B’ rating to the company, indicating a high level of risk for investors.
The Sopan Pharmaceuticals IPO is expected to attract interest from foreign migrant workers, though investors are advised to consider the associated risks before applying.
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