NRB Bank begins trading of shares at Dhaka, Chittagong stock exchanges

NRB Bank Limited, one of the leading 4th generation commercial banks in Bangladesh, had its first day of trading on the Dhaka Stock Exchange and the Chittagong Stock Exchange under the 'N' category on Tuesday. The designated trading code for the company is "NRBBANK".

The ‘Listing Agreement Signing Ceremony’ and ‘Share Trading Inauguration Programme' of NRB Bank Limited at Dhaka Stock Exchange and Chittagong Stock Exchange were held in Nikunja, Dhaka, according to a press release.

Acting Managing Director of Dhaka Stock Exchange A G M Sattique Ahmed Shah, Chairman of NRB Bank Limited Mohammed Mahtabur Rahman, Vice Chairmen Golam Kabir and Mohammed Jamil Iqbal, acting Managing Director Md Shakir Amin Chowdhury, ex-Managing Director Mamoon Mahmood Shah, other directors and high officials of Dhaka Stock Exchange, Chittagong Stock Exchange, and NRB Bank attended the share trading inauguration programme.

The commencement of share trading began at Dhaka Stock Exchange by symbolically ringing the bell just at 10 am.

Later, the respective representatives of DSE, CSE and NRB Bank singed the listing agreement in favour of their organisations.

Earlier, on February 13, 2024, the NRB Bank successfully allotted the initial public offering (IPO) shares to the 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 bank received overwhelming interest, with a subscription of 3.61 times amounting to Tk 3.6055 billion against the designated IPO size of Tk 1.0 billion.