Kathmandu, Jan 8
The Initial Public Offering (IPO) of Mithila Laghubitta Bikas Bank Limited is closing today.
The issuance of 70, 725 units of ordinary shares through the IPO that begun on January 5 has been oversubscribed by 36 times in just three days, according to Civil Capital Limited, the issue manager.
“We have already more than collected Rs 24.24 crore for the Mithila IPO in three days,” an official with Civil Capital said. “Today we expect more or less the
equal amount as most of the institutional investors file for the IPO in the last day.”
He further said that the IPO would have drawn even more investors had it not come just ahead of Century Commercial Bank’s IPO, which will be floated from tomorrow.
The Securities Board of Nepal (SEBON) had approved Mithila’s IPO issuance on December 11.
As 1,415 unit shares have already been set aside for the staff of the microfinance and another 5 percent of the shares have been earmarked for the mutual funds, the total ordinary shares floated to the public stands at 65,774.
And as with all the recent IPOs of microfinance development bank it is likely to be hugely oversubscribed – by almost 200 times, according to the issue manager, Civil Capital Limited.
Source: sharesansar
The Initial Public Offering (IPO) of Mithila Laghubitta Bikas Bank Limited is closing today.
The issuance of 70, 725 units of ordinary shares through the IPO that begun on January 5 has been oversubscribed by 36 times in just three days, according to Civil Capital Limited, the issue manager.
“We have already more than collected Rs 24.24 crore for the Mithila IPO in three days,” an official with Civil Capital said. “Today we expect more or less the
equal amount as most of the institutional investors file for the IPO in the last day.”
He further said that the IPO would have drawn even more investors had it not come just ahead of Century Commercial Bank’s IPO, which will be floated from tomorrow.
The Securities Board of Nepal (SEBON) had approved Mithila’s IPO issuance on December 11.
As 1,415 unit shares have already been set aside for the staff of the microfinance and another 5 percent of the shares have been earmarked for the mutual funds, the total ordinary shares floated to the public stands at 65,774.
And as with all the recent IPOs of microfinance development bank it is likely to be hugely oversubscribed – by almost 200 times, according to the issue manager, Civil Capital Limited.
Source: sharesansar
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