Standard Chartered Bank FPO allotment today at 3:30 PM; big & small investors likely to get 6.4% & 24% respectively

NMB Capital Limited, the issue manager for the FPO of Standard Chartered Bank Nepal Limited (SCB), is going to conclude the allotment today (Baisakh 25, 2074). The allotment will be held at Hotel Yellow Pagoda, Jamal, Kathmandu at 3:30 PM. NMB Capital had rescheduled the allotment that was scheduled for last Friday after it encountered technical problems related to ASBA applications. The issue, that was open from Chaitra 1 to Chaitra 4, 2073, had collected more than Rs 36 arba from around 2,21,000 applicants. After the allotment, more than 2.21 lakh investors will be refunded more than Rs 36 arba, which will help to solve the current liquidity shortage to an extent. Probable Allotment Percentage Allotment for those who had applied up to 140/150 units will probably be decided through lottery. For others who had applied more than 160 units, they are likely to be allotted around 6-6.5% on pro-rata basis. Standard Chartered Bank Nepal Limited has earned Rs 74 crore in the second quarter of the FY 2073/74. After the FPO, its paid up capital will reach around Rs 4 arba and its promoter – public shareholding structure will be maintained at 70.21% and 29.79%. Its reserve will grow by Rs 3.04 arba. As per the bank, it will issue 100% bonus shares to its shareholders from the premium earned from the FPO and profit in the FY 2073/74, thereby meeting NRB’s requirement of increasing its paid up capital to a minimum of Rs 8 arba.