NIBL FPO allotment of 90.69 lakhs unit shares on Chaitra 30 at Hotel Annapurna

Nepal Investment Bank Limited (NIBL) had issued 90,69,388 unit shares worth Rs 5.45 arba as a part of Further Public Offering (FPO) from Falgun 11 to Falgun 14 2072. The FPO was issued at Rs 601/unit.

An official with Nepal Investment Bank Limited said, “The allotment of the FPO will take place on Chaitra 30, 2072 (Tuesday) at Hotel Annapurna, Durbarmarg, Kathmandu at 9:30 am.”

As per the preliminary data, the big investors are likely to be allotted 8.5% and small investors are likely to get 32.5% of the total investment, he added. However, percentage may change with the final output of the allotment data.

Investors applying  for 10 and 20 unit shares will be allotted shares through lottery.

Investors applying Rs 50,000 or below per application form are classified as small investors and those applying above 50,000 are considered big investors.

Nepal Investment Bank Limited is likely to refund excess money collected from investors from the 5th or 6th of Baishak, 2073, i.e. 5 days after the allotment of the shares.

SEBON had barred the promoter Shareholders of NIBL (NIBPO), BoD members and their immediate families from applying to this FPO. Even after refunding the money received from the promoter shareholders, the FPO still had a collection of  approximately Rs 45 arba, which is the highest collection reported in a public issue in the history of Nepal till date.

The bank had issued FPO as per a directive issued by the central bank to maintain at least 30% stake of public shareholders.

After the issuance of the FPO its paid up Capital has reached to the Rs 7.25 Arba. The reserve has increased by Rs 4.54 arba to Rs 9.11 arba. After the FPO, NIBL has the highest paid up capital among all the commercial banks other than state owned commercial banks.

NIBL has earned net profit  of Rs 1.09 Arba in the second quarter of the current  fiscal year 2072/73.

source:sharesansar.com,10 april 2016
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