Aarambha Microfinance Bittiya Sanstha Limited (AMBSL) is issuing its Initial Public Offering (IPO) of 2,94,000 unit shares Rs 29.4 million (Rs 2.94 crores) at the face value rate Rs 100 per unit, starting immediately from today Tuesday 27th February 2018 (15th Falgun 2074). The microfinance company endorsed its proposal to issue this IPO in its third annual general meeting (AGM) held on Saturday 4th November last year 2017 (18th Kartik 2074), and subsequently received its approval from Securities Board of Nepal (SEBON) on Thursday 4th January this year 2018 (20th Paush 2074).
The offering of the shares is open initially only for 4 trading days and will close on as early as next week Monday 5th March 2018 (21 Falgun 2074) if all shares are sold, else the closing date is extendible maximum up to Tuesday 29th Falgun 2074 (13th March 2018).
Interested investors must apply for a minimum of 50 units of this share and can apply a maximum of up to 1,000 units of the share. However, it is advisable to apply for only the minimum 50 units of the IPO share since mandatory allotment of only 10 units of share will be made to every applicant presumably by lottery system after its oversubscription.
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