Nepal Investment Bank to float 90.69 lakh unit of FPO at a premium of Rs 601; CIT appointed as the issue manager

An agreement has been signed between Citizen Investment Trust (CIT) and Nepal Investment Bank Limited (NIB) on Thursday (today) to issue further public offering ( FPO) of NIBL. The bank will be issuing 90 lakhs, 69 thousand, 3 hundred and 88 units shares as a part of the FPO. The FPO will be issued at a premium of Rs 601. The agreement letter was signed by Mr. Ram Krishna Pokharel, CEO of Citizen Investment Trust and Jyoti Prakash Pandey, CEO of Nepal Investment Bank Limited. As per the source, the FPO is likely to come within two months. At present Promoter and ordinary shareholders’ share structure in the commercial bank stands at 80:20 ratios. After the FPO promoter and ordinary shareholders share structure will be at 70:30 ratio. Nepal Investment’s FPO of 90 lakh units after the issuance of bonus share; paid up capital to reach Rs 7.25 arba