Listing Agreement Between NEPSE and Nepal Republic Media Limited Finalized; Units Freely Tradable from Coming Sunday

The agreement for the listing of Initial Public Offering (IPO) shares of Nepal Republic Media Limited (NRM) has been finalized with the Nepal Stock Exchange (NEPSE) today.

As per the agreement 96,75,000 unit shares of Rs. 100 face value each of the life insurance company will be listed in the stock exchange.

NIMB Ace Capital Limited (former Mega Capital Markets Limited) is the issue and sales manager of the IPO issuance.

Similarly, it has been learnt that symbol 'NRM' has been given for the listed shares of the company.

The agreement was finalized today and the shares of the company will become freely tradable from coming Sunday, i.e., Shrawan 21, 2080.

Since, it will be traded from next working day i.e. 21st Shrawan, it has taken 39 days, for listing after IPO allotment to the general public as the allotment had been completed on Ashad 11, 2080.

Earlier, Nepal Republic Media Limited had issued 35,25,930 units worth Rs 35.25 crores as Initial Public Offering (IPO) to the general public (Jestha 26-30, 2080).

The issued capital of the company is Rs. 96.75 crores of which 44.99% i.e. 43,53,000 unit shares worth Rs. 43.53 crores have been set aside to the general public of which; 10% i.e. 4,35,300 units have been already issued to the Nepalese citizens working abroad, whereas 4% i.e 174,120 units have been set aside for the employees of the company, and 5% of the total offered shares i.e. 217,650 units have been set aside for the mutual funds. The remaining 35,25,930 units are for the general public.

However, Out of the total 3,91,770 units set aside for employees and mutual funds, only 2,97,809 units were subscribed, and the remaining 93,961 units remain unsubscribed. The remaining 93,961 units were added to the general public and a total of 36,19,891 units are issued to the general public.