SI Panels IPO Postponed: What Investors Need to Know
SI Panels, a prominent company, has announced a postponement of its highly anticipated initial public offering (IPO). The SI Panels IPO, originally scheduled to open on August 14th, 2024 (Bhadra 29th in the Nepali calendar), is now delayed due to unforeseen circumstances. This news will undoubtedly affect those looking forward to investing in SI Panels IPO and adds a new factor to the stock market landscape.
The company was prepared to issue shares to local residents in affected areas and Nepali citizens working abroad as the first phase of its IPO launch. The current situation, however, has led to this IPO postponement. The announcement has left many wondering, when will SI Panels IPO open now?
According to the official statements, SI Panels plans to announce a new date for the IPO as soon as the situation stabilizes. The IPO process will then resume. The company will offer 261,627 shares to residents of all wards of Ratnanagar Municipality in Chitwan and 497,092 shares to Nepalese workers abroad. After these initial offerings, the remaining shares will be available to the general public, providing broader investment opportunities. This structure is common with primary market IPOs designed to include priority sectors.
Prabhu Capital is the designated merchant banker handling the share issuance for SI Panels. The Securities Board of Nepal (Sebon) had granted the company permission to proceed with the IPO on August 31, 2024. The board allowed the company to issue a total of 5,232,548 shares, valued at Rs. 523.25 million. Therefore, the SI Panels IPO share price will be released soon after the new IPO date.
This SI Panels IPO news is important for all potential investors. Stay updated on the latest IPO updates from reliable sources. Keep an eye on SI Panels IPO details and the SI Panels share price. Keep an eye out for the next IPO opening date to ensure you don’t miss the chance to invest in this promising company. This event highlights the dynamic nature of the Nepalese stock market, and the necessity for investors to stay informed about market trends and any potential delays.
