SEBON approves IPO of Mountain Energy Nepal

Jul 10, 2020 03:28 PM Merolagani

Securities Board of Nepal has approved the initial public offering (IPO) of Mountain Energy Nepal on July 9. The company is planning to issue 20 percent shares of its issued capital to the general public.

Following the approval, the company will issue 3,936,054 units of primary shares worth Rs 393.6 million. Out of the total offered shares, the company will issue 1,968,027 units to locals of the affected area and 1968,027 units to the general public.

Care rating Nepal has assigned Care NP Grade 4 to the IPO indicating below average fundamentals.

The company has appointed Nabil Investment Banking and CBIL Capital as its issue manager.

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Net Profit of Civil  Bank Decreases by 35%

Aug 14, 2020 09:06 PM

The net profit of Civil Bank (CBL) has decreased by 35.40 percent in the fourth quarter of the last FY. The bank earned a net profit of Rs 457 million in the review period compared to Rs 700.7 million of the corresponding period of the previous FY.