Nepal Bank to issue FPO from Ashadh 15 at Rs 280; Institutional investors can also apply from the first day of the issue

Nepal Bank Limited (NBL) will be issuing Further Public Offering (FPO) to the general public from Ashadh 15 till Ashadh 19, 2075.

The bank will be issuing 1,76,84,858 unit shares at a price of Rs 280 per share (premium included Rs 180). The bank will be gathering Rs 4.95 arba from the FPO issuance.

The interested applicants can place their applications through any of the financial institutions providing C-ASBA facility. The minimum applications can be placed for 50 units while the maximum applications can be placed for all 1,76,84,858 units.

After the new decision being made by the Securities Board of Nepal (SEBON), the institutional applicants can apply for the share from the first day as well.

Siddhartha Capital has been appointed as the issue manager for the FPO issuance.

After the issuance of FPO, the stake of Nepal Government will be 51%. Currently it holds 62% of the total share of the bank. Similarly after the issuance of FPO the paid-up capital of Nepal Bank Limited will go up by Rs. 1.76 arba and Rs. 3.18 arba in reserve with the premium amount of Rs 180 per share.

CBIL Capital, NIBL Ace Capital, Nepal SBI Merchant Banking, Civil Capital Market, Laxmi Capital Market, Sanima Capital, Sunrise Capital and Global IME Capital have been appointed as the underwriters of thhe FPO issue. They will underwrite 100% of the issuance among themselves. 

It had reported net profit of Rs 2.56 arba in the third quarter of the current fiscal year.

Its last traded price (LTP) stands at Rs 299 as on Ashadh 6, 2075.