MMBSL to launch Rs 61.2 million IPO

Mero Microfinance Biitiya Sanstha Ltd (MMBSL) has said that it will issue 612,000 units of shares to the public in 2015/16. The microfinance company made the announcement in its third annual general meeting held in the capital on Friday. According to a statement, the microfinance company said its chairman Rajan Singh Bhandari presented the annual report of the company in the AGM. Presenting the report, Bhandari told shareholders that it earned Rs 60 million of operating profit by floating Rs 1.18 billion in loans in the last fiscal year -- the microfinance's second year of operation. Source: Republica