Miteri - IPO Allotment Model

Secondary market is on bearish regime while primary market has stretched up the investors' psychology with IPO allotments. Miteri Development Bank allotted its IPO on 40th Day of its primary issue closing date, the last day of allotment in accordance to the Securities Exchange Board of Nepal (SEBON) Act having applicants less than 10 million.
Despite the bearish trend followed by Nepalese share market for quite a long period, people are showing a great interest in the Initial Public Offering (IPO). This has proved one more time by the allotment result of Miteri Bikash Bank as told in the allotment model provided by Ace Development Bank (the issue and sales manager of Miteri Bikash Bank) on 1st December 2009.

For 135440 units of shares issued, 11324190 units of shares were demanded making oversubscription of more than 83 times. It has allotted 132730 units shares to the general public and 2710 units to its staff. There were total of 83921 applicants, only 82577 were valid applicants for allotment and remaining 1326 were disqualified. Though the bank had lagged in making profits in the past fiscal year 2063/64, it has managed for Positive growth to some extend in the following year (2064/65) with Rs. 1271440 profit and Rs. 3305810 (unaudited) in 2065/66.

IPO of Miteri Development Bank Limited has been allotted under the following model.The IPO was allotted today (1st December 2009) on Royal Singi from 9 a.m. Ace Development Bank is the issue and sales manager of Miteri IPO.

Class Interval	Total Appli cants	Appli cation %	Total Ordinary Shares Applied	Ordinary Shares Applied %	Ordinary Shares Allotted %	No of Allottee	Total Ordi nary Shares Allotted	Ordinary Shares Allotted %	Weighted Average
50	24,007	0.2907	1200350	0.1060	10	2500	25000	0.1884	1.7769
60-90	13,026	0.1577	988910	0.0873	20	1008	20160	0.1519	1.7393
100-110	12,593	0.1525	1354550	0.1196	20	1000	20000	0.1507	1.2597
120-150	11,650	0.1411	1483570	0.1310	20	900	18000	0.1356	1.0351
160-220	10,924	0.1323	2066510	0.1825	30	775	23250	0.1752	0.9599
230-500	8,696	0.1053	2834630	0.2503	30	642	19260	0.1451	0.5797
510-1000	1,252	0.0152	744750	0.0658	50	90	4500	0.0339	0.5155
1010-1500	307	0.0037	340870	0.0301	70	22	1540	0.0116	0.3855
1510-2500	78	0.0009	147750	0.0130	90	6	540	0.0041	0.3118
2510-3500	21	0.0003	62190	0.0055	110	2	220	0.0017	0.3018
3510-5000	23	0.0003	100110	0.0088	130	2	260	0.0020	0.2216
Valid Applicant	82,577	1	11,324,190	1	.	.	.	.	.
Disqualified	1,326	.	.	.	Total	6947	132730	1	.
Staff	18	.	.	.	Staff	18	2,710	.	.
Total Applicant	83,921	.	.	.	Total	6965	135440	.	.

Click here to Chek your share applicaton, allotted or not?

Source: Jamb News Service