Janata Bank Nepal going public in May

Janata Bank Nepal Limited has completed preparations for initial public offering.

It will be issuing 6 million units of shares each with a face value of Rs 100 or US$ 1.20 to general public within the first week of May, according to Janata Bank Nepa Limited CEO, Bijaya Pant.

Pant described the bank’s performance in the first two years as encouraging. He assures that the bank's good corporate governance practices and financial achievements assure that people investing on IPO will enjoy good returns.

“We have given special emphasis on corporation governance and thanks to that along with dedicated works of our staff, our transactions have grown two-fold in recent period,” said Pant.

Janata Bank mobilized Rs 6.75 billion in deposits as of April 4, 2012 and has earned operating profit of Rs 95 million so far this fiscal year. It has 22 branches and will open the 23rd and 24th branch in Rolpa and in branch in Ason of Kathmandu.

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