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Crystal Shares Oversubscribed nearly 25 times
Published by Octron on June 20, 2009
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Crystal Finance has collected of Rs. 200 million till yesterday and expected to collect sum of Rs. 500 million to the closing day of its primary issue. The amount is approximately 24 times of the total issued amount.
The company had issued 210,000 units of shares amounting to Rs. 21,000,000 to general public from 2nd Ashad 2066(16 June 2009) at Rs. 100 per share. It has closed the issue from today (19 June 2009) after the banking hour as demand climbed more than the actual units of share.
“IPO of Crystal may be oversubscribed by 20 to 25 times” said Sameer Chhetri, investment banking head of NMB bank. He further added that, general investors have shown great interest in crystal IPO, hence the demand is higher than its supply. NMB Bank Ltd. is the issue manager of crystal issue.
The company had earned net Rs.1123200 profits for the first six month of current fiscal year and expected to earn Rs. 8292000 net profits for the year end of 2065/66.
Source: Jamb
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