NMB Bank denies FPO rumor of 1.14 crore units at Rs 522 per unit

NMB Bank Limited (NMB) has denied the news of its Further Public Offering (FPO) as reported by some media. Speaking to ShareSansar, Mr. Pramod Dahal, Company Secretary of NMB Bank denied the per share price of FPO as published by the media. “We will be floating FPO for general public, but we have not calculated the premium price for FPO nor the number of shares to be floated”, said Mr. Dahal. The company has denied any involvement in the price and number of units reported by various medias. They had reported per share price of Rs 522 per unit for 1.14 crore units further shares. After the news of FPO and premium price, the price of NMB stock had surged by up to 6% in the first few minutes of trading. NMB Bank’s 21st AGM held on Poush 24, 2073 had endorsed FPO for general public to maintain its promoter – public shareholding structure at 51% - 49% from the current 60.01% - 39.99%. Earlier this year, it had also issued further shares to its foreign promoter, FMO Netherlands, at a premium price of Rs 250 per share. Its paid up capital after capitalization of 19% bonus and FPO for promoters stands at Rs 6.46 arba. It has earned net profit of Rs 74.10 crore till the second quarter of the FY 2073/74.