Nepal Grameen Bikas Bank to issue 975,000 units FPO shares at a premium price; Paid up capital to reach Rs 65.50 crore

Nepal Grameen Bikas Bank Limited (NGBBL) will be issuing 9,75,000 units shares as part of its Further Public Offering (FPO) at a premium price. The per unit premium price of the share and issue manager for the FPO has not been decided yet. NGBBL is a national-level microfinance development bank based in Butwal, formed in 2014 by the merger of 5 microfinance companies: Purwanchal Grameen Bikas Bank, Madhyamanchal Grameen Bikas Bank, Paschimanchal Grameen Bikas Bank, Madhya Paschimanchal Grameen Bikas Bank and Sudur Paschimanchal Grameen Bikas Bank Limited. Its paid up capital stands at Rs 55.75 crore with promoter and general public share ownership at 82.13% and 17.87% respectively. After the FPO, its paid up capital will reach Rs 65.50 crore with promoter – general public shareholding structure at 69.90% and 30.10% respectively. NGBBL has earned Rs 1.09 crore in the first quarter of the fiscal year 2073/74. It has yet to conduct AGM for the FY 2072/73. Its last closing price stood at Rs 545 as of February 23, 2017.