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Pokhara Finance FPO allotment concludes; all applicants allotted 10 units, maximum 30 units allotted through lottery
2017-09-14

NIBL Capital Markets Limited, the issue manager for the FPO of Pokhara Finance Limited (PFL), has allotted 983,682 units FPO shares today. The allotment was held at NIBL Capital’s premises in Lazimpat, Kathmandu at 10:30 AM.

All 46,683 valid applicants have been allotted a minimum number of 10 units. 14,968 applicants who had applied only 10 units were allotted exactly 10 units. Likewise, 10,106 applicants have been allotted exactly 20 units. Out of other 21,609 applicants who had applied 30 units or more, 19,970 applicants were allotted 30 units through lottery.

Finally, for the last remaining 2 units, another lottery was drawn from those who were allotted just 20 units. From them, 2 applicants were allotted just 1 extra unit each.

Pokhara Finance Limited (PFL) had issued its Further Public Offering (FPO) of 9,83,682 units shares worth Rs 21.64 crore at Rs 220 per unit from Shrawan 29, 2074 till Bhadra 1, 2074.

Applicants were required apply for a minimum of 10 units of shares and they can apply for up to 4,900 units shares.

After the FPO, its paid up capital has reached Rs 65.57 crore and its promoter – public shareholding structure has been restructured to 51% and 49%. Its reserve has grown by Rs 11.80 crore. Finally, after issuing 15% proposed right share, its paid up capital will reach Rs 75.40 crore. As a national level finance company, it should hike its paid up capital to a minimum of Rs 80 crore.

source: sharesansar.com,14 September 2017

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