KATHMANDU

Nepal Warehousing Company Limited has obtained permission for IPO issuance. The Nepal Stock Exchange Board provided permission to the company on October 10. The company has obtained permission to issue 1,365,000 shares at a price of Rs. 100 per share for the general public.

In the first phase, the company will issue 10% of the shares to Nepali citizens who are employed abroad, have obtained labor approval from the relevant body of the Nepali government, and are still employed abroad, leaving the remaining shares for the general public. Himalayan Capital is the sales manager for share issuance.

The company has completed the construction and operation of a warehouse, including a silo with a capacity of 40,000 metric tons, in Sunsari and Parsa districts, while a silo with a capacity of 15,000 metric tons is being constructed in Kapilvastu district, and it is being prepared to operate by the month of Poush.

The main objective of this company’s establishment is to provide facilities for storing food grains by constructing a food storage house and storing the food produced by farmers in that storage house. The current paid-up capital of this company is Rs. 55 crore.