Get ready to trade Panchakanya Mai’s IPO in stock market; FPO of Nepal Bank to get listed after Dashain

Tue, Oct 9, 2018 1:22 PM on Featured, IPO/FPO News, Stock Market,
Get ready...

The festive season is almost here. Investors have started to book their profits to celebrate. But things are not the same for the investors holding the IPO of Panchakanya Mai Hydropower and FPO of Nepal Bank Limited.

1,76,84,858 unit shares of Nepal Bank and 11,00,000 unit shares of Panchakanya Mai Hydropower are yet to be listed in the stock market.

When enquired for the IPO of Panchakanya Mai, the officials replied that the shares will be listed tomorrow. “All the legal requirements have been fulfilled and agreement has been made.

The shares will be listed in the secondary market tomorrow” said an official of Panchakanya Group. The IPO was allotted to the valid applicants on Shrawan 11, 2075. Sunrise Capital was the issue manager for the IPO issuance of the hydropower company. The IPO of Panchakanya Mai was oversubscribed by more than 10.46 times.

However, Nepal Bank’s FPO might require longer time. As per the officials of Nepal Bank Limited, there are still few statutory requirements to be fulfilled. So, the listing might take a bit longer.

As per the official of Nepal Bank Limited, the shares will probably be listed after Dashain. So, the investors holding the FPO of Nepal Bank will have to wait longer. The FPO of the bank was allotted to the applicants on Shrawan 20, 2075. Siddhartha Capital and Citizens Investment Trust were the issue manager for the FPO issuance. Only 53%of the total issue was allotted to the valid applicants and the remaining were subscribed by the underwriters.