KATHMANDU, August 3: Nepal Republic Media Limited (NRM) and Nepal Stock Exchange (NEPSE) have finalized an agreement to list NRM in the stock exchange.
An agreement to this effect was signed and exchanged by NRM Chief Executive Officer Sambridhi Gyawali and Nepal Stock Exchange Chief Executive Officer Krishna Bahadur Karki amidst a special function held at the NEPSE headquarters on Thursday.
Under the agreement, 9,675,000 unit shares with a face value of Rs 100 each will be listed on the stock exchange. NIMB Ace Capital Limited (formerly Mega Capital Markets Limited) is the issue and sales manager for the IPO issuance.
The company's listed shares will be identified by the symbol 'NRM'. This makes the NRM the first publicly listed media company in Nepal, marking a new chapter in the history of the country’s media industry.
Nepal Republic Media sets historic first day shares trading wit...
The listing will officially commence from the upcoming Sunday, which is August 6. This marks the end of a 39-day period since the IPO allotment to the general public, which was completed on June 26, 2023.
The company's listed shares will be identified by the symbol 'NRM'. This makes the NRM the first publicly listed media company in Nepal, marking a new chapter in the history of the country’s media industry.
The NRM Board has said that the decision will bring more transparency and accountability in the media industry and is likely to inspire more privately-owned media houses to follow in the footsteps of NRM to enhance transparency and accountability in media in the true sense of the words. The Board has also extended gratitude to all those who supported them and encouraged them to take this bold step in diversifying publicly listed companies.
Earlier, Nepal Republic Media Limited had issued 3,525,930 units of shares valued at Rs 35.25 crores to the general public from June 9 to 13, 2023.
The total issued capital of the company is Rs 96.75 crores. Out of this, 44.99% (43,53,000 unit shares worth Rs 43.53 crores) have been reserved for the general public. Among these reserved shares, 10% (4,35,300 units) have already been issued to Nepali citizens working abroad, while 4% (174,120 units) have been set aside for the employees of the company.
Additionally, 5% of the total offered shares (217,650 units) have been allocated to mutual funds. The remaining 3,525,930 units were issued for the general public.
