SY Panel IPO to Open from September 14

Kathmandu – SY Panel Limited has announced that it will open applications for its Initial Public Offering (IPO) starting from Bhadra 29. The company will issue a total of 758,719 shares to locals of the industry-affected areas and Nepali citizens working abroad.

On Bhadra 17, the Securities Board of Nepal (SEBON) granted approval to issue 5,232,548 ordinary shares worth Rs. 52.32 crore at a face value of Rs. 100 each. Out of this, 2 percent (261,627 shares) has been reserved for locals of the industry-affected areas, while 10 percent (497,092 shares) will be issued to Nepali migrant workers who have received labor permits from the government.

Locals of the industry-affected areas can apply for a minimum of 10 shares and a maximum of 50,000 shares. Similarly, Nepalis working abroad can also apply within the same range. The IPO for locals will close at the earliest on Ashoj 12 and at the latest on Ashoj 27. For migrant workers, the issue will close between Ashoj 1 and Ashoj 12 (after banking hours).