Sebon approves gigantic 1.14 crore units FPO of NMB Bank ; to issue at Rs 333

Securities Board of Nepal (SEBON) has approved 1,14,15,163 units further public offering (FPO) of NMB Bank. 

The company will now issue this amount of shares to general public at a premium price. NMB Bank had already decided to float the stated amount of shares at Rs 333 and the regulatory board has now granted an approval. 

Citizen Investment Trust has already been appointed as the issue manager for the purpose of FPO.

NMB currently has a paid-up capital of Rs 6.46 arba which will hike to Rs 7.60 arba after the capitalization of FPO. Similatly, the reserve will tremendously shoot up by Rs 2.65 arba. The bank will further need Rs 40 crore(7%) to meet the required paid-up capital.    

NMB Bank will collect massive Rs 3.80 arba from the general public via FPO.