Commerz and Trust Bank starts IPO awareness campaign

KATHMANDU, JAN 28: 

Nepali capital market will be witnessing another major public offering within next two weeks. Commerz and Trust Bank Nepal (CTBN) will launch its Initial Public Offering (IPO) before mid-February. The bank has already started its primary issue awareness campaign.

The bank will be 29th commercial bank to be listed at Nepal Stock Exchange (Nepse). Commerz and Trust Bank Nepal has appointed Citizens Investment Trust, Nabil Investment Ltd, Growmore Merchant Banker and Civil Capital Ltd as the issue managers for primary shares.

Commerz and Trust Bank Nepal is offering six million unit shares at a face value of Rs 100 per unit.

“The IPO will not be launched later than Magh end,” said Bhisma Raj Chalise, CEO of Civil Capital. “We are waiting for the capital market regulator’s approval.”

Securities Board of Nepal (Nepal) will be granting approval within a week.

Currently, the bank is busy doing a tour of major cities to promote its upcoming primary shares. It organised an interaction in Birgunj today, whereas on Friday it organised interaction in Butwal with the prospective investors. 

The bank management has assured the investors regarding the high return on investment. It has earned Rs 65 million in the second quarter of the current fiscal year.

Last month Civil Bank’s IPO worth Rs 800 million was oversubscribed by almost seven per cent as the investors had applied for shares worth Rs 5.4 billion.

Source: THT