Apex Hospital to issue IPO, added to SEBON's pipeline

Apex Hospitality Limited is currently in the process of preparing an Initial Public Offering (IPO) to issue shares to the public. The company has submitted its application to the Securities Board Of Nepal (SEBON) on Ashwin 12, 2080 BS. The sale of shares to the public will only proceed upon receiving approval from the regulatory body, SEBON.

Pending SEBON's approval, the company aims to offer 24,00,000 shares in the initial public offering (IPO), valued at a par value of Rs. 100 per share, totaling Rs. 24 crores.

The shares will be initially offered in two phases: the first phase will be targeted at foreign-employed Nepalis, while the second phase will extend the offering to the general public, inclusive of the company's employees and mutual fund schemes.

To manage the IPO, Apex Hospitality Limited has appointed Himalayan Capital Limited as the issue and sales manager. An agreement outlining the terms of the public offering has been established between the company and Himalayan Capital Limited.