Allotment of Nepal Bank’s FPO concludes; Allotment made to all the valid applicants fully

Sun, Aug 5, 2018 8:19 AM on IPO/FPO News, Latest, Stock Market,

Siddhartha Capital Limited, the issue manager for the FPO issue of Nepal Bank Limited has concluded the allotment today. The allotment was done in the premises of Siddhartha Capital, Naxal, Kathmandu. All the valid applicants were allotted with the total number of applied shares.

23,624 valid applicants had applied for 93,75,750 unit shares out of the total 1,76,84,858 units issued. 53% shares were subscribed and allotted out of the total issue.

The FPO issued by Nepal Bank Limited went undersubscribed even after opening issue for promoters, directors and their family members. Remaining 83,09,108 unit shares out of 1, 76, 84,858 unit shares at a price of Rs 280 per share shall be acquired by the 8 underwriters.

As per the issue manager, Nepal Bank will send a letter for payment to the underwriters. After the payment is made the shares will be listed in the secondary market.

Also read:Underwriters to acquire the unsold shares of Nepal Bank; What is each underwriter’s liability?