StanChart FPO Final Update: Collects Rs 38.20 arba (oversubscribed by 11.57 times) from 2.23 lakh applicants till last day

Standard Chartered Bank Nepal Limited (SCB) had issued 25,58,140 units shares worth Rs 3.30 arba as part of its Further Public Offering (FPO) from Chaitra 1 till Chaitra 4, 2073 at Rs 1,290 per unit (Rs 1,190 premium added to the face value of Rs 100). The FPO has collected Rs 38.20 arba (oversubscribed by more than 11.57 times) till the last day. As per an official of NMB Capital Limited, the issue manager for the FPO, the final collection of the issue reached Rs 38.20 arba from 2.23 lakh applicants till last day. Since the number of applicants has exceeded 2 lakhs, the allotment will now conclude in 60 days from the last day of issue i.e. within Jestha 2, 2074. 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.