Trade Tower Limited has released an offer letter to launch an Initial Public Offering (IPO) aimed at Foreign Nepalese Immigrants.
The IPO opportunity for Foreign Nepalese Immigrants will commence from the 8th Baishakh to the 22nd Baishakh, 2082. Please be aware that the issue will not be prolonged beyond the early closing date for Nepalese nationals residing abroad.
The company’s issued capital stands at Rs. 81.56 Crores, of which 48.696%, equating to 39,71,693 unit shares valued at Rs. 39.71 Crores, will be subsequently offered to the general public. Of this public offering, 10% of the shares, amounting to 3,97,169.3 unit shares, have been designated for Nepalese citizens working overseas, with the issue set to open on the aforementioned dates.
LS Capital Limited has been selected as the issue manager for the IPO launch. Applications may be submitted for a minimum of 10 units and a maximum of 1,000 units.
ICRA Nepal has reaffirmed a [ICRANP-IR] BB-issuer rating for Trade Tower Limited (TTL), signifying a moderate probability of default in fulfilling financial commitments. This rating mirrors the overall creditworthiness and is not linked to any specific debt instrument.
Established in 2007 and headquartered in Thapathali, Kathmandu, Trade Tower Limited (TTL) is a public limited company involved in leasing, financing, and infrastructure development. Its inaugural project, Trade Tower Thapathali, has been operational since April 2011. Recently, TTL inaugurated Hotel Crystal Pashupati, a three-star hotel located in Gaushala, which started partial operations in mid-April 2024, with 49 out of 90 rooms and two conference halls. As of mid-October 2024, TTL is completely owned by over 350 promoters but intends to issue an IPO, which will reduce promoter ownership to approximately 51%. Mr. Shiva Hari Dangal serves as the company’s principal shareholder and chairman.
