Starting from Jestha 11, Unique Nepal Laghubitta will be issuing 379,425 units of FPO (Follow-on Public Offering) shares to the general public.

 

Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) has recently announced its plan to issue a Follow-on Public Offer (FPO) through an offer letter to the general public. The FPO will consist of 379,425 units of shares with a face value of Rs 100 each, starting from Jestha 11, 2080. The objective of this FPO is to raise a total of Rs 3.79 crore. The initial closing date for the subscription is set for Jestha 16, with the possibility of extension up to Jestha 25, 2080, if the issue is not fully subscribed.

As of now, the company's paid-up capital stands at Rs. 11.06 crores, with 94.01% of shares (10,40,025 units) owned by the promoters and 5.99% (66,300 units) held by the public shareholders. However, as per the regulations of the Banks and Financial Institutions Act of 2073 and the NRB, it is mandatory for the public shareholders to hold at least 30% of the issued capital. To comply with this requirement, the company will be issuing 379,425 units of FPO shares to the general public. Following the FPO, the promoter-to-public share ratio will shift from 94:6 to 70:30.

It is worth noting that Unique Nepal Laghubitta had initially planned to issue an IPO for 2.70 lakh shares. However, due to a successful merger with Ghodighoda Laghubitta, both entities merged and commenced their joint operation under the name of Unique Nepal Laghubitta Bittiya Sanstha Limited on Poush 30, 2078. Since Ghodighoda Laghubitta was a publicly listed company, the merged entity decided to proceed with an FPO to adjust the shareholding ratio instead.

Muktinath Capital Limited has been appointed as the issue manager for the FPO issuance. Interested investors can apply for a minimum of 10 units and a maximum of 1000 units. After the FPO shares are issued, the paid-up capital of the company will increase to Rs. 14.85 crores.

In terms of credit rating, CARE Ratings Nepal Limited (CRNL) has revised the issuer rating of Unique Nepal Laghubitta Bittiya Sanstha Limited (UNLB) to CARE-NP B+ (Is) from CARE-NP BB- (Is). This rating indicates a relatively high risk of default concerning the timely fulfillment of financial obligations in Nepal.