Sindhu Bikash Bank to go public

KATHMANDU, OCT 7: 

Sindhu Bikash Bank has announced its plans to issue 490,000 units of ordinary shares with a face value of Rs 100. The bank has appointed Growmore Merchant Bank as issue and sales manager to manage its initial public offering (IPO). A memorandum of understanding regarding agreement was exchanged between chief executive officer of Sindhu Sanjeev Pradhan and managing director of Growmore Kabindra Dhoj Joshi. The bank has authorised capital of Rs 200 million, issued capital of Rs 100 million, and after the IPO its paid-up capital will reach Rs 100 million.

Source: THT