Ten lakh units of NCDB shares get listed at NEPSE

ShareSansar, March 19:

Nepal Community Development Bank (NCDB) has signed an agreement with Nepal Stock Exchange Limited (NEPSE) to list 10 lakh shares for trading.

NCDB’s Chief Executive Officer Dr Ghaman Singh Khadka and NEPSE General Manager Sitaram Thapaliya inked the agreement yesterday to list the shares, including 3 lakh primary shares floated through an Initial Public Offer and 7 lakh promoter shares at a face value of Rs 100 per scrip.

The trading in the share will begin shortly.

The development bank based in Butwal had floated its Initial Public Offering of 3 lakh primary shares in January 19.

The IPO was oversubscribed by 5.45 times for the retail investors and 3.60 times for other investors, according to the issue manager Growmore Merchant Banker, which has already carried out the allotment.

Altogether 117,600 retail investors and 176,400 other investors had applied for the IPO.

Distribution of the advice slip and refund to the non-allottees had started from February 26.

Of the total primary shares floated by NCDB, 6,000 units had been earmarked for its staff.

NCDB had posted a net loss of Rs. 22.3 lakhs during the third quarter of the last fiscal year 2068/69.

Its Net Worth Per Share stands at Rs 91 and EPS at 0.80 percent.