Nepal Bank to float more than 1.76 crore unit shares in FPO; Govt. share will be diluted to 51%

Government owned Nepal Bank Limited (NBL) has proposed to float shares in Further Public Issue (FPO) in the market. As per the notice published by the bank, 1,76,84,858 unit primary shares with face value of Rs 100 each has been proposed to be issued in FPO by the board meeting held on Magh 23, 2074 . In its current paid up capital, the government has a stake of 62% while the general public have 38% shares. After the issuance of the proposed FPO shares, the holding of the government will be diluted to 51%.