Let’s go to Kathmandu. Everest Colour Company has issued its initial public offering (IPO). In the first phase, the company has issued shares to Nepalese working abroad.

The company is issuing 7,90,000 units of shares worth Rs 7,90,000 at the rate of Rs 100 per share of 26.33% of the issued capital of Rs 300 crore. Out of this, 79,000 units of shares worth Rs 79 lakh have been issued for the Nepalese employed abroad.

Applications can be place for minimum 10 units and maximum 7,000 units. Nepalese who are in foreign employment can apply till May 22. If the application is not received as per the demand within the stipulated period, the application can be submitted till May 30.

Muktinath Capital has been appointed as the issue manager for the IPO issuance.

Nepalese who are in foreign employment can apply for the shares through the banks and financial institutions that have taken the services of the Securities Board of Nepal (SEBON) and My Shares.