First Business News Portal in English from Nepal
KATHMANDU: Hospital for Advanced Medicine and Surgery (HAMS) has formally submitted an application to the Securities Board of Nepal (SEBON) for the issuance of its initial public offering (IPO) to the general public.
On Friday, the hospital sought SEBON’s approval to release 1,125,000 shares to the public. The application proposes the issuance of these IPO shares at a nominal price of Rs 100 per share, with an additional premium of Rs 188 per share, totaling Rs 288 per share.
Muktinath Capital Limited has been appointed as the sales manager for the share issuance, and Nepal SBI Merchant Banking Limited will handle the underwriting process.
During the Annual General Meeting (AGM), the hospital’s decision-makers outlined that a maximum of five percent of the shares would be allocated to employees, while the remaining 85 percent would be retained by the founding group.
HAMS Hospital is venturing into the IPO market for the first time in the health sector, having also undergone a credit rating for the IPO. ICRA Nepal has assigned an ICRA NP Triple B minus rating for the offering.
Established on November 17, 1997, and licensed by the Ministry of Health, Bagmati, Hetauda, the hospital has been operating as a one-hundred-bed general health institution. Additionally, its subsidiary, HAMS Nursing College, has been approved by the Council for Technical Education and Vocational Training since December 24, 2008, and is currently conducting a 3-year proficiency certificate nursing program with a focus on delivering high-quality and affordable health education.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
© Copyright 2020. FiscalNepal.com. Website Design and Developed by Genesis Web Technology