Highland Distillery to Issue IPO Through Book Building, AGM Scheduled for Magh 28

Kathmandu — Highland Distillery Limited has announced plans to issue an Initial Public Offering (IPO) through the book-building method. Issuing a public notice on Tuesday, the company stated that its board meeting held on Poush 24 decided to convene the Annual General Meeting (AGM) on Magh 28 (Wednesday) at the company’s registered office in Hattisar, Kathmandu.

According to the notice, the AGM will deliberate on issuing shares to the general public in accordance with prevailing securities laws. The IPO may be issued at a premium price, through the book-building mechanism, or at par value. The meeting will also pass a special resolution granting full authority to the board of directors to proceed with all necessary processes related to the IPO issuance.

In addition to the IPO proposal, the AGM will consider distributing dividends from the distributable profit of the previous fiscal year. The company has proposed issuing a 25 percent bonus share and distributing a 1.3158 percent cash dividend based on the current paid-up capital. These proposals are expected to strengthen shareholder returns and enhance the company’s capital structure.

The AGM agenda also includes amending the company’s Memorandum and Articles of Association as required and authorizing the board to implement such amendments. Furthermore, shareholders will be asked to approve the financial statements of the last fiscal year and appoint an auditor for the current fiscal year, along with determining the auditor’s remuneration.

With preparations underway to enter the capital market through a book-building IPO, Highland Distillery is positioning itself for public listing. Market participants view this move as a significant development, as it could add a new player from the distillery and beverage sector to Nepal’s stock market, offering investors an additional investment avenue.