Remittance company IME to go public

KATHMANDU: IME Pvt Ltd – the largest remittance company in the country – has decided to go public.

The 22nd annual general meeting (AGM) of the company held on Friday endorsed a proposal to go public and issue primary shares to the general public.

The decision means IME will become Nepal’s first remittance company to issue primary shares to the general public. The company will now appoint an issue manager and seek permission from the Securities Board of Nepal (Sebon) to issue ordinary shares to the public.

Speaking on the occasion, IME Group President Chandra Prasad Dhakal said it was a matter of pleasure that IME is becoming a public limited company. Similarly, IME Group’s Managing Director Hemraj Dhakal said the decision to take IME public would help the company to become more competitive, energized and professional.

IME has expanded its presence globally in 22 years of its existence. It is bringing remittances from over 200 countries and autonomous regions. It has a network of 230 IME Centers in 77 districts as well as more than 35,000 sub-agents, and banks and financial institutions.