Trade Tower Limited plans to offer 32,96,505.19 units of IPO shares at a nominal value of Rs. 100 starting from the 14th Jestha, 2082. The last date to submit applications for this issuance is the 19th Jestha, 2082, and if the full subscription is not achieved, the deadline may be extended until the 28th Jestha, 2082.
From the overall total of 39,71,69,300 units, 10%, which amounts to 3,97,169.30 units, has been allocated to Nepalese citizens residing abroad, while 2% or 79,433.86 units have been earmarked for the company’s employees, and 5% of the shares available for public offering, translating to 1,98,584.65 units, will go to mutual funds. The balance of 32,96,505.19 units is available for the general public, with the issuance commencing on 14th Jestha, 2082.
LS Capital Limited has been designated as the issue manager for the IPO launch. Applications can be submitted for a minimum of 10 units and a maximum of 1,000 units.
ICRA Nepal has reiterated a [ICRANP-IR] BB-issuer rating for Trade Tower Limited (TTL), signifying a moderate likelihood of default regarding financial commitments. This rating conveys an overall assessment of creditworthiness and is not specifically linked to any single debt instrument.
Established in 2007 and located in Thapathali, Kathmandu, Trade Tower Limited (TTL) is a public limited company involved in leasing, financial services, and infrastructure development. Its inaugural project, Trade Tower Thapathali, has been operational since April 2011. TTL recently opened Hotel Crystal Pashupati, a three-star establishment in Gaushala, which began partial operations in mid-April 2024 with 49 of its 90 rooms and two conference halls available. As of mid-October 2024, TTL is entirely owned by over 350 promoters but is planning 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.
