Reliance Spinning Mills opens IPO for Nepalis working abroad
The company is offering 115,596 units of shares to migrant workers under a dedicated quota.
KATHMANDU: Reliance Spinning Mills Limited has opened the sale of ordinary shares exclusively for Nepali citizens working abroad, starting today.
The company is offering 115,596 units of shares to migrant workers under a dedicated quota.
According to the company, eligible applicants living overseas can apply for a minimum of 50 units and a maximum of 20,000 units.
Applications will remain open until Mangsir 25 at the earliest and Poush 7 at the latest, depending on subscription status.
Interested investors can apply through all ASBA-member banks and financial institutions registered with the Securities Board of Nepal, their branch offices, or via the Mero Share online portal.
Global IME Capital is serving as the issue and sales manager.
Reliance Spinning Mills has an issued capital of Rs 1.90 billion, of which 10.14 percent (1,926,600 units) is being offered to the public.
Out of this, the company is releasing 1,155,960 ordinary shares, including the 10 percent migrant workers’ quota amounting to 115,596 units that opened for subscription today.
