Out of the 390,000 units of shares issued by the company, 7,800 units are allocated to employees and 19,500 units are allocated to various mutual funds. The remaining 362,700 units of shares are required to allocate to 36,270 general investors.
As per the new Securities Issuance and Allocation Regulation issued by Securities Board of Nepal (SEBON), all applicants must be provided at least 10 units of shares. Given that the number of share applicants has already exceeded 40,000 counts, it became obvious that a lottery system would be adopted to allocate the shares.
NMB Capital, the issue manager of the bank informed that a total of 30,050 share applicants have already applied for Rs 264.8 million worth of shares during the first two days of issuance. Interested investors have still a day i.e. tomorrow to apply for the shares.