Mega Bank to get listed next week

KATHMANDU:

Shareholders of Mega Bank Nepal might start trading their shares at the stock exchange after a week.

Mega Bank will list its shares at Nepal Stock Exchange (Nepse) early next week, according an official at Nepse. Nepse allows the trading of shares after seven days of listing.

Following the listing, Mega Bank’s stock can debut anywhere between the bank’s per share net worth and three times the net worth. According to the bank’s fourth quarter financials, its net worth stands at Rs 114.24 — so share trading will start at anywhere between Rs 114 to Rs 342.

The bank had seen historical subscription during its Initial Public Offering held in the first week of June.

With 144,456 minority shareholders, Mega Bank has the highest number of shareholders. It already had 1219

promoters. The public issue worth Rs 699 million was oversubscribed by 22 times. The bank received 160,524 applications and the issue was oversubscribed by Rs 14 billion.

Source: THT