NMB Bank's FPO issue to close today for the investors; Promoters & directors of the bank can still apply from Ashadh 29 till Ashadh 32

The FPO issue of NMB Bank will be closed today for the general pulic as well as for the institutional investors. As per the notice published by the bank, the issue will be open for the promoters, directors and their family members from Ashadh 29 till Ashadh 32, 2075 if the issue fails to be fully subscribed by today i.e. Ashadh 28, 2075.

The FPO issue of NMB Bank Limited (NMB) has collected Rs 2.76 arba till 4 PM yesterday from over 66,300 applicants. The total issue is worth Rs 3.80 arba. The issue is still short by around 27.36%.

The FPO issue had started from Jestha 30, 2075. The bank has been issuing 1,14,15,163 unit shares as further public offering to the general public at a price of Rs 333 per share. Applications have been received for around 82.88 lakh units until 4 PM of the second-last day.

The provision for the maximum limit to be applied for the IPO with premium issue and FPO issue has been changed by the Securities Board of Nepal (SEBON). Since the provision has already been implemented from Ashadh 4, 2075, the amendment in the provision is also applicable for the ongoing FPO issue of NMB. Hence, the maximum units to be applied for the issue is decided to be 50 lakh units amounting Rs 1.665 arba.

ICRA Nepal has assigned Grade 3 rating to the issue indicating average fundamentals.

Citizen Investment Trust has been appointed as the issue manager for the FPO issuance.

After the capitalization of the FPO, paid-up capital will reach Rs 7.60 arba with 51 and 49 percentage shareholding of promoters and general public respectively. The bank has proposed 15% bonus to its shareholders worth Rs 1.14 arba after which the paid up capital of the bank will reach Rs 8.74 arba hence, meeting the minimum capital requirement for commercial banks as directed by NRB.