Divine Healthcare Appoints Muktinath Capital as IPO Issue Manager
Divine Healthcare has appointed Muktinath Capital as the issue manager for its planned IPO with the company set to offer 20% of its paid-up capital to the public.
Divine Healthcare Limited has appointed Muktinath Capital Limited as the issue manager for its upcoming Initial Public Offering (IPO) to the general public.
An agreement for the IPO management was signed between Divine Healthcare Chairman Yubaraj Shrestha and Muktinath Capital CEO Kabindra Bikram Dhwaj Joshi at the Muktinath Capital office.
Under the proposed IPO, Divine Healthcare plans to issue 20% of its paid-up capital as ordinary shares to the general public.
Established in 2017, Divine Healthcare is a pharmaceutical manufacturer based in Bharatpur Metropolitan City-16, Chitwan. The company currently manufactures and distributes 67 types of medicines in Nepal.
The company has built a nationwide distribution network comprising more than 125 distributors, supporting the distribution of its pharmaceutical products across the country.
Divine Healthcare plans to use the funds raised through the IPO to expand production technology, develop new medicines, improve existing products and strengthen research and development (R&D) activities.
The appointment of Muktinath Capital as issue manager marks another step toward Divine Healthcare's planned entry into the public market. Further details regarding the IPO, including the issue size, number of shares and issuance timeline, will be subject to the required regulatory approvals and disclosures.