NRB Bank will make its share trading debut on the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) today (Tuesday) under the 'N' category.
The fourth-generation private commercial bank will be the 36th listed bank on the Dhaka bourse. The banking sector accounted for 16.4 per cent of the DSE's total market capitalisation, the highest among all the sectors.
The bank has reported 43 per cent year-on-year decline in profit to Tk 160.72 million in the nine months through September 2023, as per the audited consolidated financial statements.
The private lender's post-IPO net asset value per share stood at Tk 12.33 as of September last year.
NRB Bank received regulatory approval from the Bangladesh Securities and Exchange Commission (BSEC) on November 9 last year for raising Tk 1 billion from the primary market.
The bank issued 100 million ordinary shares at Tk 10 each under the fixed price method. The IPO subscription was held between January 28 and February 1 this year.
The IPO was oversubscribed as the bank received more than Tk 3.65 billion against IPO shares worth Tk 1 billion.
Each general investor got 255 IPO shares of NRB Bank while non-resident Bangladeshis received 209 shares against a deposit of Tk 10,000.
Of the IPO proceeds, the bank will invest Tk 920 million in government securities and Tk 42 million in the stock market, having kept the rest as IPO expenses.
UCB Investment and Shahjalal Equity Management are jointly working as issue manager for the IPO of NRB Bank.
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