NRBC Bank started its journey at Tk 15

Shares of NRB Commercial Bank, which has completed the initial public offering process, have started trading at Tk 15. This figure was seen in the first transaction on the first day of trading on Monday (March 22).

This information has been known from DSE sources.

It is learned that the trading code of NRBC Bank on DSE is: “NRBCBANK” and the company code is: 11150.

Earlier on March 16, the company’s IPO lottery shares were submitted as the winners’ BO. A lottery draw was held on March 3 to allocate shares among the applicants in the IPO. Applications were accepted for the company’s IPO from February 3 to February 9.

The IPO of the bank was approved at the 749th meeting of the Bangladesh Securities and Exchange Commission (BSEC) on November 18.

NRB Commercial Bank issues Tk 120 crore shares to raise Tk 120 crore from the capital market. In this case the price of each share has been fixed at Tk 10.

The bank will raise money from the capital market to buy government securities, invest in the secondary market and spend on IPOs.

According to the audited financial statements of the company for the financial year ended June 30, 2020, the net asset value without revaluation was Tk 13.86. And the average earnings per share (EPS) for the last 5 years has been Tk 1.55.

Sunbd/NJ