General investors will be able to subscribe IPO shares of NRB Bank Limited from January 28.
The fourth-generation private commercial bank got regulatory permission to collect capital from the primary market in November last year. It will raise Tk 1 billion by issuing 100 million shares at Tk 10 each.
General public and non-resident Bangladeshis (NRB) will be able to subscribe the bank's shares till 4:30pm of February 1 through brokers and merchant banks.
To subscribe NRB Bank's shares, general investors need a minimum investment of Tk 50,000 in the secondary market, calculated at market prices at the end of January 18 trading session. Non-resident Bangladeshis will need Tk 1 lakh.
Both types of investors will have to invest a minimum of Tk 10,000 to buy IPO shares.
The subscription by eligible investors will begin at the same time.
Out of Tk 1 billion, the bank will invest Tk 920 million in government securities, Tk 42 million in the secondary market, and spend Tk 38 million on IPO expenses.
According to the financial report of the lender for January-September, 2023, its consolidated net interest income stood at Tk 720 million, which was Tk 960 million in the year 2022.
In the nine months through September 2023, the bank's consolidated profit after tax stood at Tk 160 million and the earnings per share Tk 0.27, which were Tk 550 million and Tk 0.94 respectively in the calendar year 2022.
UCB Investment and Shahjalal Equity Management are working as the issue managers for the IPO.
NRB Bank, established in 2013, launched a wide variety of products and services under different categories, such as retail banking, SME banking, NRB banking, corporate banking, and e-banking.
Until the end of 2023, the bank had 50 branches, 24 sub-branches, 50 ATM booth outlets, and 308 agent outlets across the country. Its capital adequacy ratio stood at 14.19 per cent for January-September 2023, which was 16.60 per cent in 2022.
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