On Baishakh 07, Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) finalized the distribution process for its Follow-on Public Offering (FPO). The allocation occurred at Nepal SBI Merchant Banking Limited, the designated issue and sales manager.
The microfinance entity had issued a complete total of 51,292.5 shares in the FPO, with each share valued at a nominal price of Rs. 100, amounting to Rs. 51,29,250. The offering was available from Chaitra 21 to 26, 2081.
The microfinance entity had presented an FPO of 51,292.50 units at a par value of Rs. 100 per share, summing up to Rs. 5,129,250. As stated by the issue and sales manager, Nepal SBI Merchant Capital, the FPO attracted a total of 1,923,490 applications, requesting 22,176,840 units. Out of these, 2,523 applications were declined, while 1,920,939 applications were accepted.
Due to the high demand, the FPO of the laghubitta organization was allocated through a lottery system. According to the allotment results, a total of 5,129 applicants received 10 units of shares each. From the leftover 2.50 units, after the general allotment, three applicants within those 5,129 were chosen for additional distribution. Consequently, two applicants were awarded 11 units each, while one applicant received 10.50 units of the shares.
This notable FPO illustrates a significant achievement for Wean Nepal Laghubitta Bittiya Sanstha as it endeavors to broaden its shareholder network and reinforce its foothold in the Nepali financial landscape.
The IPO results can be accessed via CDSC IPO Result, MeroShare, and Nepal SBI Merchant Banking Limited.
