[IPO sales open to the public through high-profit microfinance]
By Rabindra Dhungel, 22 august 2020. Samaj Microfinance Financial Institution Limited, which has always been profitable, has opened sale of 86,000 ordinary shares (IPO) from Thursday. The company has raised Rs. 86,000 ordinary shares with a face value of Rs 100 each have been issued.
Of which, the company has allotted 1,000 shares for employees and 4,300 shares for collective investment funds. The general public can apply for the remaining 80,700 shares. Siddhartha Capital Limited is the manager of the issue and sale of the company’s securities.
Investors will be able to apply for a minimum of 10 lots and a maximum of 5,000 lots. The IPO issuance will be closed on September 26 at the earliest and on September 3 at the latest.
After the IPO, the founders will have 57 percent share ownership and the general public will have 43 percent share ownership. The issued capital of the company is Rs. 20 million. Currently, the paid up capital from the founders is Rs. 11.4 million.
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