Kathmandu. SY Panel Nepal (SY Panels) is going to issue Initial Public Offering (IPO). The company is going to issue the IPO from November 19.

The company has already issued shares to the locals of the industrial-affected areas and Nepalis living abroad for employment. In the second phase, the IPO will be issued to the public.

The company has been permitted to issue 52,32,548 units of shares at a face value of Rs 52,32,54,800 i.e. 40% of the issued capital of Rs 1,30,89,37,100.

Out of this, 2,61,629 units of ordinary shares have been issued to the locals of the affected areas and 4,97,092 units of ordinary shares to the Nepalese living abroad.

Similarly, 1,49,127 units have been set aside for the employees of the company and 2,48,546 units have been set aside for mutual funds.

The remaining 40,76,156 units of shares worth Rs 40,76,15,600 will be issued to the general public.

Applications can be place for minimum 10 units and maximum 50,000 units. The last date to apply for the IPO is November 7. If the application is not received as per the demand within this period, the application can be submitted till November 17.

Prabhu Capital has been appointed as its issue manager. The interested investors can apply for the shares from the Securities Board of Nepal (SEBON) through the banks and financial institutions that are members of the company.