2024-02-29 03:37:18
NRB Bank Limited, which is in the process of listing in the capital market after completing the initial public offer (IPO) process, has started trading from Tuesday (February 27). As a result of listing the new bank in the capital market, the number of companies in the banking sector is 36.
On Tuesday (February 27), Dhaka and Chittagong Stock Exchange (DSE-CSE) informed this information.
According to sources, the company has started trading in ‘N’ category in Dhaka and Chittagong Stock Exchange. The company’s trading code on DSE and CSE is ‘NRBBANK’. Company code in DSE is 11155. And Company Script ID-2039 in CSE. The company will deal in the banking sector. On the first day, the company’s shares started trading at 11 rupees. Within 5 minutes of the start of the bank’s trading, 1079 shares were exchanged 5 times.
Earlier on Tuesday (February 13) the initial public offer (IPO) shares of NRB Bank were allotted on pro-rata basis among common investors through Electronic Subscription System (ESS) in the Listing Hallroom located at DSE Tower (Nikunj-2).
For the company’s investors, applications of Rs 360 crore 55 lakh 30 thousand were received against a total of Rs 100 crore, which is 3.61 times against each share.
Resident Bangladeshi investors were allotted 255 shares and non-resident Bangladeshi investors were allotted 209 shares against every application of Tk 10,000.
Earlier, the company’s IPO application was accepted from January 28 to February 1.
NRB Bank’s IPO was approved at the 887th commission meeting held on November 9 last year under the chairmanship of the Bangladesh Securities and Exchange Commission (BSEC) chairman Professor Shibli Rubaiyatul Islam.
NRB Bank has been authorized to issue 10 crore shares at a face value of 10 rupees. Through this, the bank will withdraw 100 crores from the stock market. The money raised through the IPO will be used by the bank for investment in government securities and listed securities and for initial public offering.
According to the company’s audited financial statements at the end of the third quarter ended on 30 September 2023, the net asset value per share (NAVPS) stood at Tk 12.72. The company’s earnings per share (EPS) during the period under review stood at Tk 0.27. And the average earnings per share (EPS) of the last 5 years has been Tk 0.72.
Note, the company cannot declare, approve or distribute any dividend before listing in the stock market.
UCB Investment Limited and Shahjalal Equity Management Limited are responsible for the issue management of the company.