Kathmandu. SY Panel Nepal Limited (SY Panels) has issued an initial public offering (IPO).

In the first phase, the company had issued shares to Nepalese working abroad. The shares have been allocated.

The company had issued 497,092 units of shares to the Nepalese working abroad from September 23 to 23.

A total of 56,000 applicants had applied for the IPO. Due to the number of applications exceeding the demand, the shares were allotted by lottery. A total of 49,709 applicants have been allotted 10 units of shares. Out of the total number of shares, 2 have been allotted 11 units each.

The company will now issue shares to the general public.