Much-awaited RMDC and SKBBL share trading begins (Circuit-level demand for more than 10,000 unit shares of both companies)

Sharesansar, October 8:

The trading of the much-awaited shares of Rural Micro Finance Corporation (RMDC) and Sana Kisan Bikash Bank Limited began in Nepal Stock Exchange Limited (NEPSE) today.

The trading symbol is ‘RMDC’ for RMDC and ‘SKBBL’ for Sana Kisan Bikash Bank Limited while the trading ranges have been fixed at 319-956 for RMDC and 349-1047 for Sana Kisan.

Currently RMDC shares opened at Rs 510 per unit and the shares of SKBBL opened at Rs 550.

Attracted by the scrips, many buyers are pledging 10 percent for each of these shares ( Rs 561 per unit share of RMDC and Rs 610 per unit share of SKBBL.  Apparently, there is a demand for more than 10 thousand units of shares of both the companies’ at circuit level.  

But, the sellers are holding the shares expecting even better return.

Last Tuesday 52 lakh units share of RMDC and 20 lakh units of SKBBL were listed with NEPSE.

Earlier RMDC had appointed NCM Merchant Banking as its Registrar to share. NCM Merchant Banking Limited will be providing various share related transactions such as ownership transfer of shares, signature verification, splitting of shares, dividend distribution, among others, and all other services related to share registration from its office in Kamal Pokhari, Kathmandu

The company had launched its IPO on June 27.

RMDC had issued 1,528,800 equity shares of face value NRs 100 each with a premium of NRs 80 per share for the general public and 31,200 equity shares of NRs 100 each for its employees, which is 2% of the overall issue.

The company had set aside 78,000 general shares, from the issued equity shares to general public, for mutual funds, with 26,000 units each allotted to Siddhartha Growth Scheme-1, Nabil Balance Fund-1 and Citizen Investment Trust Scheme.

Sana Kisan has distributed 5,70,000 share certificates to the general public, including 18,000 shares to its staff of the total six lakh IPO shares allotted in August, . Earlier it had distributed 30,000 to the mutual funds.