Rapti Bheri Bikas Bank also get nod for IPO

KATHMANDU, Jan 5 :

Securities Board of Nepal (Sebon) has granted its approval to Rapti Bheri Bikas Bank Limited (RBBL) to launch its Initial Public Offering (IPO).

According to Sebon officials, the capital market regulator decided to permit the regional development bank to issue 500,054 units of primary shares with face value of Rs 100 to public on Friday.

Rating agency ICRA Nepal has assigned an ´[ICRANP] IPO Grade 4´ rating to the IPO, indicating below-average fundamentals to the proposed public issue.

Headquartered in Nepalgunj, RBBL started its operations in February 2010. It has license to operate in Banke, Dang and Bardiya districts. The bank is headquartered at Nepalgunj.

Source: Republica