Nepalstocks
Nov 29, 2013
Cosmos Development Bank Limited has announced to float the Initial Public Offer (IPO) of 1.75 lakh unit equity shares of face value Rs 100 from December 8.
The development bank has appointed Civil Capital Market Limited as its issue managers.
Altogether 3,500 units have been set aside for the bank’s staff and the rest to the general public.
The IPO's earliest closing date is on December 12 or could be extended till December 22. The applicants must apply for at least 50 units and up to 10,000 units.
According to the fourth quarterly report of the development bank based in Gorkha, it had registered a net profit of Rs 2.39 in the first quarter of the current fiscal year compared to 152,640 in the corresponding quarter.
Its paid-up capital stands at Rs 2.62 crore and it has a negative reserve of Rs 46.86 lakh as its total loan loss provision to total NPL is as high as 158.93 percent.
Nonetheless, its NPL stands at 0.74 percent.
After the issuance of the IPO, the development bank’s paid-up capital will rise to Rs 4.37 crore.
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