Today is the Final Day to Apply for Trade Tower Limited's First Phase IPO for Nepalis Working Abroad

Today marks the final day to apply for the first phase of the Initial Public Offering (IPO) issued by Trade Tower Limited, targeted exclusively at Nepali citizens working abroad.

The company opened the IPO on Baisakh 8, offering a total of 397,169.30 shares worth NPR 39.7 million to Nepalis who have received official labor approval from the Government of Nepal.

This IPO is part of the company’s plan to issue a total of 3,971,693 shares at a face value of NPR 100 per share, which accounts for 48.696% of its issued capital of NPR 815.6 million.

Application Details:

• Investors can apply for a minimum of 10 shares and a maximum of 1,000 shares.

• Laxmi Sunrise Capital Limited is the issue and sales manager for this IPO.

• Applications can be submitted through all ASBA member banks and financial institutions, their designated branches, or via Mero Share, the online platform developed by CDS and Clearing Limited.

Oversubscription by Over 3.17 Times

As of 5:05 PM on Sunday, 57,054 applicants had applied for a total of 1,262,270 shares, amounting to NPR 126.2 million, which is 3.17 times more than the shares offered.

Credit Rating:

For this IPO, ICRA Nepal has assigned a rating of “ICRA NP Issuer Rating BB- (Double B Minus)” to the company. This indicates a moderate credit risk in terms of the company's ability to meet its financial obligations.

This IPO offers an opportunity for Nepali migrant workers to participate in the domestic capital market and invest back home through a regulated and secure process.