Purbhanchal Lube Oil Prepares for IPO, Approves 8.42 Percent Cash Dividend
The 27th Annual General Meeting of Purbhanchal Lube Oil Limited approved all proposals, including an 8.42 percent cash dividend. The company has advanced preparations for an IPO through the book-building method, with 600,000 shares allotted for qualified institutional investors.
The 27th Annual General Meeting of Purbhanchal Lube Oil Limited has concluded. The meeting passed all proposals presented by the Board of Directors, including the annual and financial reports for fiscal year 2082/083.
The meeting also approved a proposal to distribute an 8.42 percent cash dividend (including tax) on paid-up capital. Similarly, proposals related to the appointment of auditors, budget, remuneration of directors, and selection of a new board of directors for the upcoming fiscal year were passed.
Meanwhile, Purbhanchal Lube Oil has advanced preparations for an IPO through the book-building method. According to the Nepal Stock Exchange, 600,000 shares have been allotted for qualified institutional investors. The company plans to expand its capital and further grow its business through the IPO issuance.