Quote:
Originally Posted by pumping
Interesting ..
Quote from FCMB prospectus
"The shares being offered rank pari passu in all respects with the
other existing issued Ordinary Shares of the Bank and will qualify for
any dividend or bonus that may be declared for the year ending 30th
April, 2008"
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This is a very good way forward. However, they are able to say this because
- The IPO is coming out early in the financial year of the bank.
- The NSE enforcement of maximum 25% over-subscription is in place. This was also clearly stated in the prospectus.
With the above, a person can do its own analysis with the maximum 25% over subscription. FCMB's analysis with this over subscription is also in the prospectus.
I believe this IPO will get the maximum 25% over subscription with ease. Also remember, there is also the 80% underwriting by the issuers.