December 26: Nepal SBI Bank has floated 67,767.87 units of further public offering (FPO)to the general investors today. The bank floated a share with a face value of Rs 100 at a premium of Rs 871 totalling Rs 971 per unit of share. The interested investors will have to apply for minimum of 10 units of share and maximum of 670 units of shares. According to the bank, the issuance will close early on December 29 and lately on January 9.

NMB Capital has been appointed as Issue Manager by the bank. The interested investors can apply from share registrar NMB Capital, all the branch offices of Nepal SBI Bank and Nepal SBI Merchant Banking. After the issuance, the paid-up capital of the bank will reach Rs 3.89 billion. ICRA Nepal has granted 'ICRA Nepal IPO Grade 2' to the issuance.

Nepal SBI is floating the FPO in a bid to maintain its promoter: general shareholder ratio to 70:30. By the first quarter of the current FY, the bank earned Rs 350 million net profit. The bank has earning per share (EPS)of Rs 36.48 and net worth of 188.79.