Aarambha Microfinance Bittiya Sanstha Limited (AMBSL) has concluded its allotment of 2,94,000 unit initial public offering (IPO) shares within 36 hours of closing of the issue amidst a press meet organized by CDS and Clearing Limited of the successful implementation of C-ASBA.
The IPO was issued to the public just a week ago starting from last Tuesday 27th February to this Monday 5th March 2018 (15th to 21st Falgun 2074). The allotment period has been reduced to a mere few days due to the full implementation of Centralized Applications Supported by Blocked Amount (C-ASBA) by Central Depository System, proving it a historical mark in the stock market of Nepal.
According to NIC Asia Capital Limited, the issue manager for the IPO of the microfinance, out of the total 1,88,048 IPO share applicants, only 27,048 applicants are allotted the mandatory 10 unit shares through the lottery system, leaving the remaining 1,61,000 empty handed.
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