Kathmandu. Nepal Infrastructure Bank is going to issue IPO to the public from  Magh 2 (2020 January 20). Deputy CEO of the bank Bhupendra Pandey informed that an invitation letter will be published on Tuesday to issue IPO.

According to CEO Pandey, the bank will issue 80 million shares at a face value of Rs 100, or Rs 8 billion. 5 percent of the total IPO has been set aside for collective investment funds while 0.02 percent shares have been allotted to employees. The remaining shares will be issued to the public.

The IPO is scheduled to go on sale on January 20 at the earliest and on January 30 at the latest. The company is about to sell 40 percent of its issued capital to the public.

The bank has been established with the objective of mobilizing long-term sources of investment from within and outside the country and investing only in the country's priority development projects. The company, which received approval from Nepal Rastra Bank to operate as a national level infrastructure development bank on January 12, 2075 BS, has formally started banking business on March 7, 2075 BS. This bank is the first infrastructure development bank in Nepal. The Government of Nepal has also invested in this bank. The IPO of this company will be available to all applicants.