Standard Chartered Bank's 25.58 lakh units FPO shares in SEBON pipeline

Standard Chartered Bank Nepal Limited (SCB) has been added in SEBON pipeline to request approval to issue 25,58,140 unit FPO shares worth Rs 3.30 arba. It had proposed a per unit price of Rs 1,290 (Rs 1,190 added to the par value of Rs 100 per unit). NMB Capital Limited is appointed as the issue manager for the FPO. SCB plans to float the IPO within Chaitra 2073 end. Standard Chartered Bank’s paid up capital after the capitalization of bonus shares of FY 2072/73 (@33.33%) stands at Rs 3.75 arba. Capitalization of the proposed 25.58 lakh units FPO shares increases the paid up capital to around Rs 4 arba. As per the bank, the premium collected from the FPO (premium of Rs 1,190 per unit) will be used to distribute dividend for the FY 2073/74. As such, Rs 3.044 arba is seen to be collected as premium and distributed to its shareholders. Overall, Standard Chartered Bank will need to provide bonus share worth around Rs. 4 arba (100%) after the FPO to comply with the NRB’s directive to hike its paid up capital to Rs 8 arba.