Salapa Bikas Bank is preparing to open its initial public offering from Mangsir 25. The first phase is specially reserved for Nepali citizens working abroad.
The bank will release 1,72,388 shares for Nepali who have received foreign employment approval from the government. This is part of the public quota that has been kept aside for different groups.
On Mangsir 8, Nepal’s Securities Board had allowed the bank to issue a total of 17,23,880 shares. Each share is priced at 100 rupees.
Out of the total IPO size, the bank has divided the shares into different categories.
• 5 percent or 86,194 shares for mutual funds
• 0.50 percent or 26,119 shares for staff
• 10 percent or 1,72,388 shares for Nepalis working abroad
Nepalis abroad can apply for a minimum of 10 shares and up to 25,000 shares. They can apply from any ASBA-approved bank or financial institution, their branch offices, or through the Mero Share online system.
Muktinath Capital Limited is managing the IPO process. After completing the first round for foreign-employed Nepalis, the bank will open the second round for the general public. Under the second phase, the bank will offer 14,39,170 shares to the general public.
