NRB Bank makes trading debut on DSE, CSE

NRB Bank Ltd, a fourth generation commercial bank, has made its trading debut on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) under the 'N' category today.

The designated trading code for the company is "NRBBANK".

Mohammed Mahtabur Rahman, chairman of the bank, inaugurated the trading of shares of the bank at Nikunja in the capital, the bank said in a press release.

On February 13 this year, the company successfully allotted the initial public offering (IPO) shares to investors.

Investors living in the country who applied for IPO shares of the bank for Tk 10,000 got 255 shares each, while non-resident Bangladeshi applicants were granted 210 shares for an application amount of Tk 10,000.

The cut-off price of the company's shares has been determined at Tk 10 in line with the fixed price method.

The lender received overwhelming interest, with a subscription of 3.61 times, amounting to Tk 360.55 crore against the designated IPO size of Tk 100 crore.

This extraordinary response emphasises the confidence and trust that investors have placed in the bank's vision and potential for growth.

By elevating its capital from the capital market, the bank is poised to achieve a significant milestone in its journey towards enhancing financial strength and resilience.

Golam Kabir and Mohammed Jamil Iqbal, vice-chairmen of the bank, and AGM Sattique Ahmed Shah, acting managing director of the Dhaka Stock Exchange, were present.

Among others, Md Shakir Amin Chowdhury, acting managing director, and Mamoon Mahmood Shah, former managing director, along with other directors and high officials of the DSE, the CSE and the bank were also present.