Mega Bank to launch IPO to raise Rs 699m

KATHMANDU, Dec 14: 

Mega Bank has appointed Citizen Investment Trust, Nabil Investment Banking Limited, NMB Capital and NIBL Capital Markets as its issue managers for its upcoming initial public offering (IPO), which is being launched in the end of the third quarter of the current fiscal year. 

An agreement to this effect was signed between the bank and four institutions on Thursday, according to a statement issued by the bank. 

The bank is launching IPO to raise Rs 699 million from the primary market. For this, the bank is issuing 6.99 million units of shares with a face value of Rs 100 each. Once the IPO wraps up, the bank will have a paid-up capital of Rs 2.33 billion.

Since the bank is issuing public shares on a large scale, we chose to jointly appoint four Issue Managers" Anil Keshary Shah, CEO of the bank, said during the signing ceremony.

Source: Republica