The Initial Public Offering (IPO) of Mithila Laghubitta Bikas Bank
Limited that closed on Wednesday has been oversubscribed by around 70
times.
The issuance of 70, 725 units of ordinary shares through the IPO that begun on January 5 was oversubscribed by around 36 times in just three days with the collection of Rs 24.24 crore, and by around 70 times as additional 26 crore collected in the final day, according to Civil Capital Limited, the issue manager.
The issue manager further said that the IPO would have drawn even more investors had it not come just ahead of Century Commercial Bank’s IPO.
The Securities Board of Nepal (SEBON) had approved Mithila’s IPO issuance on December 11.
As 1,415 unit shares were set aside for the staff of the microfinance and another 5 percent of the shares were earmarked for the mutual funds, the total ordinary shares floated to the public stood at 65,774.-SSN
The issuance of 70, 725 units of ordinary shares through the IPO that begun on January 5 was oversubscribed by around 36 times in just three days with the collection of Rs 24.24 crore, and by around 70 times as additional 26 crore collected in the final day, according to Civil Capital Limited, the issue manager.
The issue manager further said that the IPO would have drawn even more investors had it not come just ahead of Century Commercial Bank’s IPO.
The Securities Board of Nepal (SEBON) had approved Mithila’s IPO issuance on December 11.
As 1,415 unit shares were set aside for the staff of the microfinance and another 5 percent of the shares were earmarked for the mutual funds, the total ordinary shares floated to the public stood at 65,774.-SSN
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