Mirmire Laghubitta Bittiya Sanstha Limited intends to raise funds through a secondary public offering (FPO). The corporation plans to sell 51,316 FPO shares at a price higher than the par value of Rs 100.
Mirmire Laghubitta had previously inked an agreement with Nepal SBI Merchant Banking Limited on Ashad 24, 2077 BS to issue 37,260 shares in the FPO. The amount of shares to be sold has been increased, according to a new agreement signed on Jestha 23, 2078 BS.
The issue manager for the public offering is Nepal SBI Merchant Banking Limited.
The agreement for the issue of shares through FPO was signed by Roshni Bharti, Managing Director and Chief Executive Officer of Nepal SBI Merchant Banking Limited, and Rajendra Prasad Neupane, Chief Executive Officer of Mirmire Microfinance Institution Ltd.
The company must now file an application to Nepal’s Securities Board (SEBON). Mirmire Laghubitta can float the FPO to the general public if SEBON approves it.
The process of releasing shares to the public by a firm that is already listed on the stock exchange is known as an FPO (Follow-On Public Offering). An initial public offering (IPO) occurs when a corporation issues shares to the general public for the first time (Initial Public Offering). Any subsequent issuing of shares by a corporation after its initial public offering (IPO) is referred to as an FPO.