Kathmandu. Today is the last day to apply for the initial public offering (IPO) of Ridge Line Energy Limited.
The company was allowed to issue 26,07,000 units of shares worth Rs 260.7 million i.e. 22 percent of the issued capital of Rs 1.18 billion. Out of the offered shares, 1,42,200 units of ordinary shares worth Rs 1,42,20,000 per share will be issued to the Nepalese working abroad after obtaining labour permit from the concerned body of the government.
Applications can be place for minimum 10 units and maximum 50,000 units. Care Ratings Nepal has assigned CareNP Double B Issuer rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.
Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance. Nepalese who are on foreign employment can apply for the ASBA system from the banks and financial institutions participating in the ASBA service after obtaining permission from the Securities Board of Nepal.
