Kathmandu, December 27:
Immediately after the approval of its Initial Public Offer (IPO) by the Securities Board of Nepal, Century Commercial Bank Limited has announced IPO account for the convenience of its clients and ordinary investors.
“One of best parts of the IPO account is its interest rate. We are offering 6.5 percent interest for the IPO account though the interest rate we pledge for a regular account is 6 percent,” bank officials informed. “Hence, the account is an investment in itself.”
They further informed that the temporary account that can be opened for merely Rs 1,000 can also easily be converted to one of the accounts in the commercial bank.
“This is also a confirmation from the bank that it is floating the IPO soon,” Century Bank officials affirmed.
“Besides the attractive interest rate, the IPO account will facilitate bank’s clients as well as ordinary investors to apply for the IPO without hassle as they can simply ask the bank to debit a certain amount from the account for the IPO application,” the officials further informed.
And in case of the non-allotment, the refundable amount would be directly deposited in the same account, the bank officials further said, adding that they expect to float the IPO within the month of Poush and that they were just waiting for the central bank’s final nod for the same.
This account also comes as a respite to the issue managers given the huge volume of the much-awaited IPO.
IPO of Century Commercial Bank worth Rs 92 crore will be the last IPO of any commercial bank of the country as Nepal Rastra Bank has stopped providing licence to commercial banks, to press them for merger.
Immediately after the approval of its Initial Public Offer (IPO) by the Securities Board of Nepal, Century Commercial Bank Limited has announced IPO account for the convenience of its clients and ordinary investors.
“One of best parts of the IPO account is its interest rate. We are offering 6.5 percent interest for the IPO account though the interest rate we pledge for a regular account is 6 percent,” bank officials informed. “Hence, the account is an investment in itself.”
They further informed that the temporary account that can be opened for merely Rs 1,000 can also easily be converted to one of the accounts in the commercial bank.
“This is also a confirmation from the bank that it is floating the IPO soon,” Century Bank officials affirmed.
“Besides the attractive interest rate, the IPO account will facilitate bank’s clients as well as ordinary investors to apply for the IPO without hassle as they can simply ask the bank to debit a certain amount from the account for the IPO application,” the officials further informed.
And in case of the non-allotment, the refundable amount would be directly deposited in the same account, the bank officials further said, adding that they expect to float the IPO within the month of Poush and that they were just waiting for the central bank’s final nod for the same.
This account also comes as a respite to the issue managers given the huge volume of the much-awaited IPO.
IPO of Century Commercial Bank worth Rs 92 crore will be the last IPO of any commercial bank of the country as Nepal Rastra Bank has stopped providing licence to commercial banks, to press them for merger.
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