January 5: Nepal Infrastructure Bank Limited (NIFRA) has appointed NIBL Ace Capital Limited as its issue manager for the IPO issuance.
The bank said in a statement that it is issuing IPO of 40 percent of its issued capital i.e. 80 million units worth Rs 8 billion.
The bank will be issuing its IPO from January 15 to 19. The bank claimed that it is the biggest IPO in the history of Nepal’s capital market.
NIFRA said its paid-up capital will be Rs 20 billion after the issuance of IPO. Out of the total paid-up capital of the bank, Rs 12 billion has been collected from the promoter shareholders while Rs 8 billion will be collected from the issuance of IPO.
Nepal Infrastructure Bank Limited (NIFRA) has been set up by Banks and Financial Institutions (BFIs), Life and Non-life Insurance companies and other leading entities of the private sector in joint participation with the Government of Nepal.