Fonpay Payment Service Limited has announced its plan to issue an Initial Public Offering (IPO) to the general public.
The decision was made during the company’s board meeting held on Kartik 2, which also approved holding the sixth Annual General Meeting (AGM) on Kartik 24 at 5 PM in Naxal, Kathmandu.
Agenda of the AGM
As part of the IPO process, Fonpay will propose amendments to its Memorandum and Articles of Association during the meeting.
In addition, the AGM will:
Approve a 19% cash dividend (including tax) for existing promoter shareholders from the profit of the previous fiscal year.
Endorse the annual report and financial statements for the last fiscal year.
Appoint an auditor and set remuneration for the current fiscal year.
Appoint an independent director as per the company’s internal policy.
About Fonpay Payment Service
Fonpay Payment Service Limited is one of Nepal’s largest licensed payment service providers, authorized by the Nepal Rastra Bank (NRB).
The company connects banks, financial institutions, digital wallets, consumers, and merchants through its interoperable payment network.
Through this network:
More than 60 partner organizations are connected across Nepal.
The platform serves over 2 crore registered users.
More than 17 lakh merchants are part of the Fonpay ecosystem.
Fonpay’s QR-based payment system is globally recognized, helping facilitate smooth and secure digital payments between individuals and businesses throughout Nepal.
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