Staff Reporter :
NRB Commercial (NRBC) has received a huge response in the IPO application. The total application was 10.86 times than the actual allotment. The application process has been conducted in Dhaka Stock Exchange (DSE) and Chittagong Exchange (CSE) from February 3 to 9 February . Bangladesh Security Exchange Commission (BSEC), DSE and CSE have given the said information.
According to sources, NRBC Bank has been approved for the issuance of 12 crore ordinary shares in a fixed price manner. The bank will collect a total of Tk 120 crore.The face value of each share is 10 taka. Applications are collected from 3rd to 9th February through electronics subscription system.
Sources also revealed, 60 percent or Tk 72 crore will be distributed among the general investors out of the total shares of Tk 120 crore. The remaining 40 percent shares will be given to suitable institutional investors. In the general investor category, the allocation for the general public of Bangladesh is 40 percent or Tk 48 crore. 10 lakh 43 thousand 303 people have applied to get these 48 crore shares. 521 crore 70 lakh 50 thousand taka has been deposited against their application, which is 10.86 times than the actual allocation.
The Bangladeshi general public, aggrieved investors and expatriate Bangladeshis have deposited Tk 597 crore 77 lac to get shares worth Tk 72 crore allotted to them. That is, the number of applications has been 8.30 times more than the allocation.
Chairman of the Bank SM Parvez Tamal said, our bank has been registered in the stock market after a long decade. We have received huge response from the investors. It is a reflection of investors’ confidence in the bank. We will maintain their trust and credibility. I would like to thank Bangladesh Bank, BSEC, DSE and CSE for their overall cooperation in the registration process.
He also added that the main owners of the bank are it’s depositors. That is why we are going to be enlisted in the capital market to establish public ownership and proper compliance. The main goal of the bank is to bring the mass people under the overall service. Therefore, we are expanding the branch-based banking system as well as sub-branches, booths and agent banking. We are already providing services in more than 500 locations across the country.
The lottery will be conducted on 3 March to distribute the shares among the submitted applications.
