Kathmandu, January 10, 2024: Breaking new ground in Nepal’s financial landscape, Sarbottam Cement has introduced the country’s inaugural Initial Public Offering (IPO) utilizing the innovative book building process. This landmark move signifies a significant shift in the traditional IPO mechanism, promising increased efficiency and transparency in determining share prices.

Sarbottam Cement’s pioneering step includes the issuance of 930,000 ordinary shares, constituting 2 percent of its total issued capital. In an unprecedented move, the company has opened its IPO to both local and foreign Nepalese residents in areas affected by the industry, fostering a more inclusive approach to share ownership.

The distinctive feature of this IPO lies in the allocation of 267,000 shares, equivalent to 10 percent of the remaining 2,770,000 shares, specifically for Nepalese individuals holding work permits sanctioned by the Government of Nepal. This unique provision seeks to engage a broader spectrum of stakeholders in the ownership of Sarbottam Cement.

As the company pioneers this first-of-its-kind IPO, foreign employment applicants have until January 10th to submit their IPO applications. In the event of an insufficient response from local residents, the share application period will be extended until January 25th.

Interested investors can apply for shares at the rate of NPR 360.90 per share, with a minimum application for 50 shares and a maximum of 10,000 shares. Global IME Capital is the appointed issuing and selling manager, supported by Co-Issuing and Selling Managers NIMBS Capital and Prabhu Capital.

This groundbreaking initiative by Sarbottam Cement not only ushers in a new era in the IPO landscape but also underscores the company’s commitment to inclusivity and community participation in the region.