Saturday, June 20, 2009

Agriculture Develop ment Bank Ltd Ready for IPO

Agriculture Develop ment Bank Ltd (ADBL) has sought the permission of Securities Board of Nepal (Sebon) for the distribution of its Initial Public Offering (IPO). After the permission, the bank will distribute shares of Rs 960 million, read a press note. The bank has total shares worth Rs 1.80 lakh for its employee and remaining Rs 9.12 million worth shares for general people. Earlier, it distributed rights share of Rs 452.5 million to its shareholders. According to the bank, it will be the first time in the banking history of Nepal that a huge number of primary shares will be floated.

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