Mount Makalu Development Bank has issued its Initial Public Offering (IPO) of Rs 60 lakh from 11th April 2014.
Of
the total 60,000 units of primary shares being floated, 3,000 units
have been earmarked for the mutual fund, 1,200 units for the staff and
the rest for the general public.
The IPO will close on April 16 at the earliest if oversubscribed otherwise it will continue till April 25.
Growmore Merchant Banker Limited is managing the IPO.
This IPO is also expected to attract many inventors due to its sound financial statement.
The
bank’s net worth per share during last fiscal year is Rs.140 and
earning per share is Rs.13.43 which indicates sound financial statement.
After
the issuance of IPO, the bank’s paid-up capital will be Rs.2 crore.
Credit rating for this IPO is not necessary due to its capital which is
less than 2 crore.
Securities Board of Nepal had approved of the IPO in February 17.
Mount Makalu Development Bank is based in Basantapur VDC of Terhathum District.
The
Bank was registered in Company Registrar Office on 2066 Mangsir 19th as
a Public Limited Company with limited liability on shares.
Similarly
it received permission from Nepal Rastra Bank to conduct financial
transaction on 2067 Ashad 30th with financial institution of "B" Class
(One District) with its activities in Terhathum district.
The bank has started its financial transaction on 2067 Shrawan 5th from its head office at Basantapur, Terhathum.- SSN
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