SEBON adds IPO of Sabaiko Laghubitta worth Rs.5.30 Crore under preliminary review; NIBL Ace Capital appointed as the issue manager

Securities Exchange Board of Nepal (SEBON) has added proposed IPO issuance of Sabaiko Laghubitta Bittiya Sanstha Limited to its pipeline under preliminary review.

The microfinance company has proposed to issue 530,000 units of shares as IPO at par value to the general public to raise a capital worth Rs.5.30 Crore. NIBL Ace Capital has been appointed as the issue manager for the IPPO issuance.

ICRA Nepal Limited had assigned a [ICRANP] IPO Grade 4 to the proposed Initial Public Offer of Sabaiko Laghubitta Bittiya Sanstha Limited. Instruments with this grading are considered to have below-average fundamentals.

Sabaiko Laghubitta had improved its financial performance by earning a profit of Rs.1.20 Crore by the end of second quarter of the current fiscal year. Last year in the same review period, the microfinance had posted a net loss of Rs.52.55 Lakh.