Resunga Bikas Bank to go public from December 01

Resunga Biakas Bank Limited has announced its IPO for 91800 units of ordinary shares, including 1836 units secured for Bank employees. The IPO will open on 01/12/2009 and will close on 06/12/2009 at earliest. Each unit of share is rated at Rs. 100, where applicants can apply minimum 50 units and maximum
5,000 units. The promoters will be holding 70% of total shares, while 30% is planned to be released as an ordinary shares to make Rs. 3,06,00,000 as paid up capital. The issue is managed by Civil capital market limited.
The bank has head quarter at Tamghas - 1, Gulmi. The president of the bank is Mr. Rajendra Prasad Shrestha holding 11,900 units of promoters share. Most of the other promoters of the bank are resident of Tamghas, which is the bank’s major working area.

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