IDB to float shares

KATHMANDU, SEP 18: 

Innovative Development Bank (IDB), that has appointed NMB Capital as its issue and sales manager to float 337,000 units of ordinary shares, will launch its initial public offering (IPO) on September 27. IDB, with an authorised capital of Rs 100 million, has already collected Rs 60.62 million from its promoters, it said. It collected deposits worth Rs 650 million and floated loans worth Rs 430 million in the last fiscal year. It was able to earn a net profit of Rs 7.21 million during the period through a total network of five branches. 

Source: THT