Kathmandu. Salpa Bikas Bank has issued an initial public offering (IPO) for Nepalese working abroad. The bank had issued 1,72,388 units of shares at a face value of Rs 100 per share to the Nepalese working abroad after obtaining labour permit from the concerned body of the Government of Nepal from December 16 to December 17. The same shares were allotted to Muktinath Capital, the bank’s issue manager today.

A total of 67,655 applicants had applied for 1,11,520 units of shares in the auction. Out of them, 67,637 applications have been approved while the remaining applications have been rejected.

The IPO of the bank has been allotted through a lottery process as the number of applications has exceeded the demand.