Public Development Bank To Float Shares

Securities Board of Nepal (Sebon) has approved the primary issue of Public Development Bank (PDB), Birgunj. The bank will float Rs 60 million worth Initial Public Offering (IPO) from June 28July 1. “After the issue, the paid up capital of the bank will be Rs 150 million from current Rs 90 million,” said K B Kayal, chairman and managing director of the Public Development Bank Ltd. The NIDC capital market is the issue manager.