Nepal Breaking NewsNepal Stock ExchangeCYC Nepal Laghubitta is planning (Initial Public Offering)

CYC Nepal Laghubitta is planning IPO (Initial Public Offering)

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Nepal Laghubitta Bittiya Sanstha making preparations to issue initial public offerings (IPO).

The company has appointed Global IME Capital as its issue manager.

The company said it will issue 395, 335.97 of shares.

The company will issue the IPO once it approval from the Securities Board of Nepal.

About CYC Nepal Laghubitta

CYC Nepal Laghubitta Bittiya Sanstha Limited was as a ‘D’ class micro-financial institution by Nepal Rastra Bank on Magh 28, 2075 BS [11 February 2019]. On Chaitra 1, 2075 BS [March 15, 2019], it began formal microfinance operations. Baglung -3, Baglung, is where the headquarters are located.

Shaligram Laghubitta Bittiya Sanstha Limited is being acquired by the company. The transaction has previously been approved at the extraordinary general meeting of the microfinance conducted on Jestha 14, 2078 BS [28 May 2021]. Ashad 15, 2078 BS [29 June 2021] has received final permission from Nepal Rastra Bank. The acquisition will be completed in a 100:72 share swap ratio.

CYC Nepal has a paid-up capital of Rs 7 crores as of Jestha end, 2078 BS. As of today, the microfinance institution has Rs 1.55 Arba in outstanding and advances. It has 29 branch offices in 15 districts across Nepal.

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