NMB Bank to issue FPO at Rs 333 per share; Issuance of 1.14 crore units to be made soon
Mon, May 28, 2018 1:48 PM on IPO/FPO News, Stock Market, Latest,
NMB Bank Limited has notified Nepal Stcok Exchange regarding the issuance of its Further Public Offering (FPO).
The bank is set to issue 1,14,15,163 unit shares at Rs 333 per share. The bank will be generating Rs 2.65 arba as premium from the FPO issuance.
The proposal of the FPO issuance had started a year ago which was delayed due to the debate about the portion of the FMO. While Nepal Rastra Bank has made it easier for the bank to issue the further public offering.
The bank will be issuing its FPO soon after being approved from the Securities Board of Nepal (SEBON).
After the issuance of the FPO, its paid up capital will reach Rs 7.60 arba along with premium amount of Rs 2.65 arba. As per NRB's paid-up capital increment directive for commercial banks, NMB will be short by around Rs 40 crore. NMB needs to issue only 7% bonus shares to increase the capital to the aforementioned target.
NMB has earned net profit of Rs 1.47 arba till the end of third quarter of FY 2074/75, registering an annualized EPS of Rs 28.96. It had distributed 19% bonus share for FY 2072/73.
