On Chaitra 01, Swarojgar Laghubitta Bittiya Sanstha Limited (SLBBL) finalized the distribution for its Follow-on Public Offering (FPO). The procedure was conducted at NMB Capital, the designated issue and sales administrator.
The microfinance entity had put forth a total of 195,773 shares in the FPO, with each share valued at a nominal rate of NPR 100, aggregating to NPR 1,95,77,300. The offering was available from Falgun 18 to 21, 2081.
The FPO attracted a tremendous response, with 1,780,457 candidates applying for a total of 21,715,750 shares, significantly surpassing the available shares. Consequently, 1,777,793 applications were approved, whereas 2,664 applications were rejected due to inconsistencies or other problems.
In light of the high demand, the allocation was performed through a lottery system in accordance with the guidelines. Ultimately, 19,577 fortunate candidates were awarded between 10 and 11 units of shares.
This successful FPO signifies an important achievement for Swarojgar Laghubitta Bittiya Sanstha as it strives to broaden its shareholder network and reinforce its standing in the Nepali financial arena.
