Kathmandu. Sopan Pharmaceuticals Company is going to issue ordinary shares (IPO).

In the first phase, the company will be issuing labour permit to Nepalis who are on foreign employment from March 9.

The company has been granted permission to issue 42,90,000 units of shares worth Rs 42.90 crore i.e. 25% of the issued capital of Rs 1.71 billion. The company is issuing 4,29,000 units of shares worth Rs 4.29 crore to the Nepalese who are employed abroad.

The company has set aside 5% i.e. 2,14,500 units for mutual funds and 4% i.e. 1,71,600 units for employees. The remaining 34,74,900 units of shares will be issued to the general public.

Applications can be place for minimum 10 units and maximum 11,000 units. Nepalis who are on foreign employment can apply till March 12.

NMB Capital has been appointed as the issue manager for the IPO. Nepalese who are in foreign employment can apply for the shares from the Securities Board of Nepal (SEBON) through the banks and financial institutions that are members of the Securities Board of Nepal and My Shares.