NMB Bank to issue 1.14 crore units FPO at premium price

NMB Bank Limited (NMB) has decided to issue 1.14 crore units shares as a part of its Further Public Offering (FPO). The decision comes after its 21^st AGM held on Poush 24, 2073 endorsed capital increment through FPO. As per the notice published in NEPSE today, the bank’s BOD meeting held yesterday has decided to issue 1,14,15,163 units shares at a premium price. After the issuance of FPO, its promoter ownership will be diluted to 51% from current 60.01%. NMB Bank has earned Rs 1.14 arba in the third quarter of the FY 2073/74. Its paid up capital currently stands at Rs 6.46 arba. In the first quarter of this year, the bank issued further promoter shares to its joint venture partner (FMO Netherlands) at Rs 250 per share. This upped FMO’s stake in the bank from 3% to 20% and the overall promoter stake to 60.01%. After this FPO of 1.14 crore units, the bank’s paid up capital will reach Rs 7.6 arba. Likewise, its public ownership will be increased to 49% from the current 39.99%.