NCDB starts distributing IPO allotment slips, refunding non-allottee

ShareSansar, February 28:

Nepal Community Development Bank (NCDB) has started distributing the allotment slips and refunding the non-allottees of its Initial Public Offering (IPO).

Distribution of the allotment slips and the refund began from Friday.

Earlier this month the IPO, which opened on January 19, had been allotted to all the applicants at 23 percent.

The IPO was oversubscribed by 5.45 times for the retail investors and 3.60 times for other investors, according to the issue manager Growmore Merchant Banker, which held carried out the allotment on Friday.

Altogether 117,600 retail investors and 176,400 other investors had applied for the IPO.

The development bank based in Butwal, which had floated 300,000 units of ordinary shares at Rs 100 face value, has also informed that distribution of the advice slip and refund to the non-allottees will start from February 26.

Of the total primary shares being floated, 6,000 units had been earmarked for its staff.

Nepal Community Development Bank had posted a net loss of Rs. 22.3 lakhs during the third quarter of the last fiscal year 2068/69.

Its Net Worth Per Share stands at Rs 91 and EPS at 0.80 percent.