The subscription period will continue until February 1, according to Dhaka Stock Exchange.
NRB Bank, a fourth-generation private commercial bank, received regulatory approval from the Bangladesh Securities and Exchange Commission (BSEC) on November 9 last year for raising the said amount.
The private sector lender will issue 100 million ordinary shares. Of the IPO proceeds, the bank will invest Tk 920 million in government securities, Tk 42 million in secondary stock market and remaining Tk 38 million for IPO expenses.
To subscribe bank's IPO shares, general investors need a minimum investment of Tk 50,000 in the secondary market, calculated at market prices as of January 18 while non-resident Bangladeshis will need Tk 100,000.
The bank has reported net asset value per share of Tk 12.72 (without revaluation) and earnings per share (EPS) of Tk 0.27 for a period of nine months through September this year.
The weighted average of the EPS for the last five years stood at Tk 0.72.
UCB Investment and Shahjalal Equity Management are jointly working as issue manager for the IPO of the NRB Bank.
The bank cannot declare dividends, make distributions, or approve any dividends before listing on the stock market.
With the NRB Bank, the number of listed banks will stand at 36.
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