Sunday, September 1, 2013

Mega Bank Nepal lists shares, trading starts from next Sunday

Mega Bank Nepal listed its shares at the Nepal Stock Exchange (Nepse) today.
The shares will be traded from next Sunday as according to the regulation, the shares could be traded after a week of registration.

According to the regulation, shares can debut anywhere between the bank’s per share net worth and three times the net worth.
According to the bank’s fourth quarter statement of the last fiscal year 2012-13, its net worth stands at Rs 114.24 meaning its share will debut anywhere between Rs 114 and over Rs 300. But the market price of the similar banks also impacts its price.
The 28th commercial bank has floated the largest Initial Public Offering (IPO) of 6.99 million units worth Rs 699 million on June 2-5 and has also witnessed an over-subscription by 22 times. The bank had received 160,524 applications worth Rs 14 billion. But some 144,456 applicants got shares, making it the highest number of shareholders, apart from 1,219 promoter shareholders.

No comments: