Kathmandu: North City Multipurpose Limited has called its first annual general meeting on Monday, Jestha 11, at 3:00 p.m. at the company’s office in Tokha-10, Kathmandu, to pass a proposal to issue an IPO. The meeting will authorize the board of directors to submit, for approval from the regulatory authority, an application for the initial public offering (IPO) equivalent to 20 percent of the issued capital after the capital increase, and to carry out all related procedures.

The meeting will also approve the financial statements for the previous fiscal year, appoint an auditor for the current fiscal year, elect the board of directors, determine the allowances and service benefits of senior employees, and grant the board of directors authority to make necessary amendments to the memorandum and articles of association.