SEBON grants approval to the FPO of Nepal Bank; FPO to be issued for Rs 280
Nepal BankLimited’s Further Public Offering (FPO) has got approval from Securities Boardof Nepal (SEBON). The bank will be issuing 1,76,84,857 unit shares as FPO at Rs280 per share.
Thebank will collect Rs 4.95 arba from the FPO issuance.
SiddharthaCapital Limited has been appointed as the issue manager for the FPO issuance.
Afterthe issuance of FPO, the stake of Nepal Government will be 51%. Currently itholds 62% of the total share of the bank. Similarly after the issuance ofFPO the paid-up capital of Nepal Bank Limited will go up by Rs. 1.76 arba andRs. 3.18 arba in reserve with the premium amount of Rs 180 per share.
CBILCapital, NIBL Ace Capital, Nepal SBI Merchant Banking, Civil Capital Market,Laxmi Capital Market, Sanima Capital, Sunrise Capital and Global IME Capitalhave been appointed as the underwriters of thhe FPO issue. They will underwrite100% of the issuance among themselves.
TheLast Traded Price of Nepal Bank Limited was Rs 314 as on Jestha 31, 2075
Source:Sharesansar, 18th June 2018
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