Standard Chartered Bank issuing 25.58 lakh units FPO shares at Rs 1,290/unit from today; Applicants can apply up to 25,580 units

Standard Chartered Bank Nepal Limited (SCB) is issuing 25,58,140 units shares worth Rs 3.30 arba as part of its Further Public Offering (FPO) from today (Chaitra 1, 2073). The FPO is being issued at Rs 1,290 per unit (Rs 1,190 premium added to the par value of Rs 100). The FPO applications will close on Chaitra 4, 2073. The maximum closing date for the offer is Chaitra 15, 2073. Interested people must apply for a minimum of 10 units of shares and they can apply for up to 25,580 units shares. NMB Capital Limited is the issue manager for the FPO. Interested applicants can collect application forms from NMB Capital, Nagpokhari, branches of NMB Bank, Standard Chartered Bank, Goodwill Finance, Central Finance and other designated collection centers. Interested applicants can also apply from 2,060 branches of ASBA-approved banks in 73 districts around Nepal. ICRA Nepal has assigned IPO Grade 2+ to this FPO indicating above-average fundamentals. After the FPO, its paid up capital will reach around Rs 4 arba and its promoter – public shareholding structure will be maintained at 70.21% and 29.79%. Its reserve will grow by Rs 3.04 arba. As per the bank, it will issue 100% bonus shares to its shareholders from the premium earned from the FPO and profit in the FY 2073/74, thereby meeting NRB’s requirement of increasing its paid up capital to Rs 8 arba. Standard Chartered Bank Nepal Limited has earned Rs 74 crore in the second quarter of the FY 2073/74. Its last traded price (LTP) stands at Rs 2,000 as of yesterday (March 13, 2017). Collection Center Details: