The bank is issuing 33 percent of its issued capital of Rs 522.3 million to the public. Accordingly, it will issue 1,723,880 units of ordinary shares worth Rs 172.3 million to the general public.
Out of the total approved units, the bank already issued and allocated 10 percent i.e. 172,388 units shares worth Rs 17.2 million to the foreign migrated workers of Nepal.
Now, in the second phase, the bank is issuing 1,439,179 units worth Rs 143.9 million to the general public after securing 26,199 units for the employees and 86,194 units for mutual funds.
The issue will close early on January 4 and lately on January 14. The interested investors can apply for a minimum of 10 and maximum of 25,000 units of shares.
Infomerics Credit Rating Nepal has assigned B rating to the issuer indicating high risks.
The bank has appointed Muktinath Capital as issue manager. The investors can apply from all C-ASBA approved BFIs and Meroshare.
