Vijaya Laghubitta Bittiya Sanstha Limited (VLBS) is gearing up to launch its Follow-on Public Offering (FPO). In this regard, the Securities Board of Nepal (SEBON) has granted the organization authorization on Mangsir 14, 2082 BS.
The microfinance institution submitted its request to the board on Ashwin 23, 2081 BS in pursuit of approval for the public issuance. It is only after receiving the green light from the regulatory authority SEBON that the company can release the shares to the wider public.
The organization is set to offer 466,817 shares in the FPO. With a nominal value of Rs. 100, the overall public offering totals Rs. 4.66 crores.
The company has designated NMB Capital Limited as the manager for the issuance and sale associated with the public offering.
What Is FPO?
FPO (Follow-On Public Offering) refers to the procedure of distributing shares to the public by a company that is already listed on the stock market. When a company offers shares to the public for the very first time, it is known as an IPO (Initial Public Offering). An FPO represents any subsequent issuance of shares by the company following the IPO.
