Manaslu Bikas Bank to float IPO primary shares from August 11

Manaslu Bikas Bank Limited, a three district development bank, is set to launch its IPO from August 11.

The bank has got a go ahead from SEBON for going public with 360,000 unit shares priced at Rs 100 per share. The bank has appointed Growmore Merchant Bank as the issue manager for the IPO.

More than half a dozen IPO shares new year as deadline to issue shares has been extended by a year

More than half a dozen financial institutions are relieved as the central bank has extended the obligatory period for them to issue shares to the public.

From now on, financial institutions can go public within three years of coming into operation, according to the recent unified directives for fiscal year 2013-14, issued by Nepal Rastra Bank (NRB).

Earlier, the obligatory period to issue shares for the public was two years of coming into operation.

At present, there are eight financial institutions that are past the two-year deadline of issuing shares