Standard Chartered FPO allotment tomorrow

NMB Capital Limited, the issue manager for the FPO of Standard Chartered Bank Nepal Limited (SCB), is going to conclude the allotment tomorrow (Baisakh 25, 2074). NMB Capital had postponed the allotment that was scheduled for last Friday after it encountered technical problems related to ASBA applications. Since the number of applicants has exceeded 2 lakhs, the allotment was supposed to conclude in 60 days from the last day of issue i.e. within Jestha 2, 2074. SEBON had earlier instructed NMB Capital to conclude the allotment by Baisakh 22, 2074. Citing the acute shortage of liquidity in the financial market and its adverse effect on the stock market, SEBON said that this would help solve liquidity to an extent. After the allotment, more than 2.25 lakh investors will be refunded more than Rs 36 arba, which will help to solve the current liquidity shortage to an extent. 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.