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VIBOR’s shares oversubscribed 5 times (Collected Rs. 1.20 Bn)

Published by Octron on June 14, 2009

As written before (Vibor Bank IPO sees blanket Sale), we finally got the numbers regarding the IPO collection amount. Vibor Bikash Bank Ltd. made its Initial Public Offering of 26,52,000 numbers of shares at the face value of Rs. 100 from 10th June 2009 which closed today (14th June 2009). The IPO attraction among the general investors persisted this time also. NMB Bank Ltd. is the issue manager of the company which estimates the VIBOR’s share would oversubscribe by almost 5 times.

“On Friday, the subscription amounting to Rs. 540 million was collected in all the collection centers. However, it is expected that the subscriptions today, last day of the issue would vary within Rs. 550 million to Rs. 600 million,” said Mr. Samir Chhetri, Investment banking head of NMB bank ltd. In his expectation, the subscription might amount to Rs. 1.20 billion which is almost 5 times the offered amount.

In a question asked, regarding the Sunrise Banks forms scandal and its negative effect to the issue manager, he answered that the case truly had no any negative correlation with the investor’s perception toward NMB. He also added that the corrections were made and moreover none of the parties got hampered.

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