KATHMANDU: The Initial Public Offering of Nepal Infrastructure Bank Ltd (NIFRA), the largest IPO so far, has been distributed, today.
NIFRA had opened the IPO from January 15 to 19 with a total of 80,000,000 units of shares offered for Rs 8 billion.
As per statistics provided by the issue manager, a total of 1,475,008 valid applicants who had applied for 167,210,000 units of the shares will receive 10 to 50 units as per their application. Meanwhile 492,077 applicants received 10 extra units through lottery.
A total of 6,276 applicants who applied for 595,440 units were disqualified.
Among the total shares offered, 0.2 per cent were set aside for the employees of the company while 5 per cent was left for funds. The remaining units (75,840,000) were offered to the general public.
NIBL Ace Capital Limited was designated as the IPO issuance manager while CIT was set as the underwriter. Global IME Bank was designated as the share registrar of the IPO. After the IPO issuance, the company's paid-up capital will reach Rs 20 billion from the existing Rs 12 billion.
The company was established to serve and benefit from investment in significant infrastructure projects. The IPO was oversubscribed 2.21 times.
