Greenply Nepal to Issue 16.40 Lakhs Shares in Upcoming IPO
Summary
Greenply Nepal Limited has approved plans to issue 16.40 lakh ordinary shares through an IPO after converting into a public limited company. The plywood maker says it has been profitable for five straight years and will use the listing to expand capacity, enter new markets and invest in technology.
Key Points
- Greenply Nepal Limited will issue 20% of its paid-up capital, or 16.40 lakh ordinary shares, to the public through an IPO.
- The company was converted into a public limited company last fiscal year and approved a Rs. 125 premium on promoter shares.
- Greenply Nepal reported annual turnover of around Rs. 47.5 crores in FY 2081/82 and says it has remained profitable for five consecutive years.
- The company exports more than 70% of its production, mainly to India, and plans to expand capacity and reduce Nepal’s reliance on imported plywood.
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