NMB Bank FPO subscribed by nearly 25% till second last day ; issue almost sure to extend

The jumbo FPO of NMB Bank is almost sure to extend the deadline for issue due to the insufficient number of applications. The issue commenced from 30th Jestha and was supposed to end today , in case of sufficient applications. However, due to the unlikely condition the issue will continue further. 

As per the official of Citizen Investment Trust, applications for Rs 96 crores was received by this morning from over 35,000 applicants. This is just a quater of the amount issued to the public. 

NMB Bank is floating 1,14,15,163 unit shares at Rs 333. The issue can extend till 28th Ashad, 2075 in case of undersubscription. One can apply for minimum of 10 units and maxmimum of 57,070 units.   

Citizen Investment Trust is the issue manager for the public issue. ICRA  Nepal has assigned Grade 3 rating for the issue. 

The bank will collect a premium of 2.65 arba from this FPO hiking its reserve to 8.29 arba. The paid-up capital will reach to 7.60 arba  after this issue.