NMB Bank’s 1.14 crore units FPO shares added in SEBON pipeline for approval

NMB Bank Limited (NMB) has been added in the Securities Board of Nepal (SEBON)’s Further Public Offering (FPO) pipeline to seek approval for the issuance of 1.14 crore units FPO shares. NMB Bank will be issuing 11,415,163 units shares as a part of its Further Public Offering (FPO) at a premium price. The premium price for the FPO price has not made public by the company. Citizen Investment Trust has been appointed as the issue manager for the FPO. The decision to float FPO comes after its 21^stAGM held on Poush 24, 2073 endorsed capital increment through FPO. 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 7.60 arba. Likewise, its public ownership will be increased to 49% from the current 39.99% and  its promoter ownership will be diluted to 51% from current 60.01%. The bank will issue further bonus shares (stock dividend) to meet up with minimum paid up capital requirement of Rs 8 arba.