KATHMANDU, April 30: Norvic International Hospital has moved forward with the process of issuing an Initial Public Offering (IPO) through the book building method.
The company has invited institutional investors to submit confidential sealed bids for shares to be issued under the book building process.
Hamro Kitab: For the book-loving society
Norvic Hospital plans to sell 816,480 units of ordinary shares to institutional investors, which accounts for 40 percent of the 2,041,200 shares allocated for public issuance, equivalent to 20 percent of the company’s issued capital.
Institutional investors have been asked to submit their sealed bids to Nepal Stock Exchange within five working days, by May 4. According to the issue manager, the sealed bids will be opened at NEPSE on May 5.
The company will issue shares to the general public at a price set 10 percent lower than the price determined through competitive bidding by institutional investors.
